NOVATEK’s net profit under RAS in 2023 decreased by 17% – Kommersant
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NOVATEK’s net profit (MOEX: NVTK) according to RAS at the end of 2023 decreased by 17.2% compared to 2022 and amounted to 530.444 billion rubles, follows from the company’s reporting, which is cited by RIA Novosti. Meanwhile, the company’s revenue increased by 6.6%, to 857.417 billion rubles.
NOVATEK’s cost of sales increased by 4.2% and amounted to RUB 471 billion. Sales profit reached 209 billion rubles. (+15.8%). Income from participation in other organizations fell by 61.8%, to RUB 203 billion.
NOVATEK’s proven hydrocarbon reserves according to SEC standards at the end of 2023 amounted to 17 billion barrels of oil equivalent. Over the year, the figure increased by 0.2%. The company’s gas production at Arcticgas (a joint venture with Gazprom Neft) increased to 15.31 billion cubic meters.
NOVATEK’s net profit under IFRS for the first half of 2023 amounted to 155.644 billion rubles. (before adjustments for unreliable items). In October the company’s shareholders approved payment of dividends based on the results of the first half of 2023 in the amount of 34.50 rubles. per share.
In December NOVATEK sent customers are notified of force majeure regarding future supplies of liquefied gas from the Arctic LNG-2 project as a result of US sanctions. After this, according to Kommersant, the foreign shareholders of the Arctic LNG-2 project – the French TotalEnergies, the Chinese CNPC and CNOOC and the consortium of the Japanese Mitsui and JOGMEC – declared force majeure on their participation in the project.
Details – in the material “Kommersant” “Arctic LNG-2 is now on its own.”
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