ChinOil has increased its profit for more than 20%

This is preliminary data for 2017.

The expected positive free cash flow (FCF) for 12 months of 2017 increased.

Revenues including duties (sales) for the 12 months of 2017 increased by more than 13% compared to the previous year.

Adjusted EBITDA (earnings before interest, income tax and depreciation) increased by 19%.
The growth of key financial indicators in 2017 was provided both by market conditions, successful development of new projects in the hydrocarbon production segment and by increase in retail sales, and the effective actions of the ChinOil management.

The growth of the company’s operating cash flow and the completion of basic infrastructure investments to the new production projects ensured a positive free cash flow in 2017.

Hydrocarbon production was 3% higher than in 2016 due to the production growth at new fields.