Russian oil producer Gazprom Neft said its first-quarter revenue jumped 14.5 percent year-on-year, while production increased 1.1 percent. The company is the oil-producing arm of state-controlled Gazprom. In a report on the first three months of the year, the company said net production, including its share in joint ventures, was around 160 million barrels of oil equivalent, an increase of 1.1 percent from the same period last year. For revenue, the $8.3 billion for the first three months of the year marked a 14.5 percent increase year-on-year. Net profit attributable to shareholders was $1.1 billion, a 12.4 percent increase from last year. “This growth was achieved through the successful development of new projects in hydrocarbon production, higher retail sales, and a recovery in market conditions,” the company’s […]