Top Russian LNG Producer Novatek Books Higher 2024 Profit ...Middle East

OILPRICE - Economy
Top Russian LNG Producer Novatek Books Higher 2024 Profit
source : OILPRICE ( Middle East ) () 78
The biggest Russian LNG developer and exporter, Novatek, saw revenues and earnings rise in 2024 from a year earlier as production increased, the company said on Wednesday. Adjusted profit attributable to shareholders of PAO Novatek, excluding the effect of foreign exchange rates, rose by 4.6% to $5.9 billion (553.4 billion Russian rubles) in 2024. Revenues and core earnings, EBITDA, also increased last year compared to 2023, by 12.7% and 13.2%, respectively, said the Russian company. However, net debt soared 15 times, and net cash provided by operating…

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