Mozyr Oil Refinery Halved Profit Taking

• 17.04.2017, 14:15

The decrease in profit is due to the decrease in the cost of oil products.

The publicly held company Mozyr Oil Refinery recorded a decrease in net profit in 2016 as a result of a decrease in the cost of oil products. The net profit of the company decreased by 53% to 164.68 million rubles, belmarket.by writes.

According to information from the annual report of the enterprise placed on the Unified portal for e-services, in 2016 the oil refinery increased sales revenue by 8% up to 4.5 billion rubles. The production prime cost increased by 16.7% up to 4.13 billion rubles.

The enterprise received a profit from sales of 179.9 million rubles.

According to the information contained in the report, the state owns 42.7568% of the Mozyr Oil Refinery shares.

Naftan’s net profit, on the contrary, increased last year. However, its size is ten times smaller than the one of the Mozyr enterprise.