Moscow. RussNeft reduced the amount of its total debt in 2012 by 7% down to US$5,031 million, having paid US$2.4 billion to the creditors in 2011-2012.
In 2012, the Company restructured its debt load to Sberbank of Russia and Glencore. The credit to Sberbank was prolonged to May 2019, the credit annual interest was reduced down to 7%, the payment schedule was modified.
The revenue of RussNeft as per IFRS decreased insignificantly from US$5,507 million to US$5,384 million. The net profit amounted to US$414 million against US$771 million in the previous year. OIBDA was US$1,652 million (US$1,662 million in 2011) and the commercial expenses were reduced by 27% down to US$448 million.
