MOSCOW, May 29 (Reuters) – Russia’s Gazprom Neft, the oil arm of gas giant Gazprom, said on Tuesday its first-quarter net income rose by 12.5 percent year-on-year to 69.7 billion roubles ($1.1 billion) thanks to stronger oil prices, production and sales.

January – March sales grew by 14.5 percent from the same period a year before to 520.6 billion roubles, while it generated a free cash flow of 11.685 billion roubles compared to a negative figure of 510 million roubles in the first quarter 2017.

($1 = 62.7821 roubles) (Reporting by Vladimir Soldatkin; Editing by Polina Ivanova)





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