MOSCOW, May 15 (RIA Novosti) - Sibneft (RTS: SIBN) said Monday its revenues calculated to Russian Accounting Standards had grown 70% year-on-year in January-March, to reach 84.848 bln rubles ($3.15 bln).
At the beginning of May, Russia's third-largest state-controlled oil company announced its net profit had increased by 50% in the first quarter of 2006 year-on-year, to 11.6 bln rubles ($425 mln).
Russian energy giant Gazprom controls over 75% of the shares in Sibneft, one of the world's 20 largest oil companies with proven reserves of over 4.5 billion barrels. Gazprom acquired a 72.7% share in the oil company in September 2005 for $13.1 billion. Yukos owns a 20% share in Sibneft.
Sibneft shareholders voted on Saturday in favor of a proposal to change the company's name to Gazpromneft and re-register in St. Petersburg.
