Total revenues in the year to the end of December rose 13.5% to RUB89,954m with oil and gas sales up at RUB86,903m from RUB76,076m while sales of polymer and insulation tape fell to RUB1,873m from 2,098m.

The increase in oil and gas sales was attributable to higher domestic natural gas prices and an increase in liquid hydrocarbon volumes sold.

The profit attributable to Novatek shareholders increased by 13.7% to RUB26,043m, or RUB8.59 per share compared with RUB22,899m, or RUB7.54 per share in 2008.

Story provided by Business Financial Newswire