The Russian oil producer also benefitted from increased petroleum product prices as well as oil refining volumes and sales.

Net profit for the three months to the end of March hit 48.37 billion Russian rubles ($1.55 billion) as against 39.99 billion rubles in the comparable period a year earlier, a jump of 21%.

Revenues were ahead by 19.8% at 277.98 billion rubles as compared with 232.02