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Commodities

Russia's Gazprom Neft third-quarter earnings rise 27% from previous quarter

FILE PHOTO: The logo of Russian gas giant Gazprom is seen on a board at the St. Petersburg International Economic Forum (SPIEF), Russia, June 6, 2019. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Gazprom Neft SIBN.MM, the oil arm of Russian gas company Gazprom GAZP.MM, said on Thursday its third-quarter net income rose by 27% from the previous three months to 28 billion roubles ($369 million) on the recovery in oil prices.

It also said its free cash flow reached 50.8 billion roubles in the July to September quarter, while revenue increased by 35% quarter-on-quarter to 536.7 billion roubles.

Reporting by Maxim Rodionov and Vladimir Soldatkin; Editing by Christian Schmollinger

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