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4-Traders Homepage  >  Equities  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Gazprom PAO    GAZP   RU0007661625

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Gazprom Neft' : Gazpromneft-AERO & Socar Turkey Petrol Enerji Sign Agreement on Aviation Refuelling

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07/21/2017 | 12:19am CEST

Gazpromneft-Aero, operator of the Gazprom Neft aviation refuelling business, and SOCAR Turkey Petrol Enerji, one of Turkey’s leading suppliers of aviation fuels, have concluded an agreement on refuelling partner airlines of SOCAR Turkey Petrol Enerji at those airports at which Gazpromneft-Aero operates.

Pursuant to this agreement, Gazpromneft-Aero gave SOCAR Turkey Petrol Enerji access to its airport network throughout Russia with effect from June 2017, and has begun refuelling operations for Pegasus Airlines at Tolmachevo International Airport (Novosibirsk). Total volumes of aviation fuel supplies are expected to reach 1,100 tonnes per year.

Vladimir Egorov, CEO, Gazpromneft-Aero, commented: “Tourism air traffic between Russia and Turkey is showing a gradual recovery. Our total deliveries to Turkey in the first half of 2017 reached 13,000 tonnes of aviation fuel, a three-fold increase year-on-year.

Cooperation with SOCAR Turkey Petrol Enerji marks a crucial step in developing Gazpromneft-Aero’s international business, which will help further strengthen our position in a region in which we have been operating since 2010, as well as increasing the supplier pool. Going forward, we hope to further expand our cooperation with SOCAR Turkey Petrol Enerji in refuelling its clients at airports in Russia and at those CIS airports at which Gazpromneft-Aero operates, as well as in refuelling Russian airlines at airports in Turkey.”

Said Alp Karahan, International Sales Director, SOCAR Turkey Petrol Enerji, added: “Cooperation with Gazpromneft-Aero is of major importance to us. We are joining forces to offer our clients a wider network and higher service quality in aviation refuelling, facilitated by long-term relationships between our two countries. We have every confidence that this new agreement will lead to broader and more encompassing collaboration between our two companies, on all possible business areas, in the future.”

(c) 2017 Universal Solutions S.A.E. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 105 575 M
EBIT 2017 13 993 M
Net income 2017 12 409 M
Debt 2017 38 572 M
Yield 2017 5,95%
P/E ratio 2017 3,87
P/E ratio 2018 3,34
EV / Sales 2017 0,82x
EV / Sales 2018 0,81x
Capitalization 47 479 M
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 13
Average target price 2,56 $
Spread / Average Target 28%
EPS Revisions
Alexei Borisovich Miller Deputy Chairman & Chairman-Management Board
Viktor Alexeevich Zubkov Chairman
Timur Askarovich Kulibayev Independent Director
Vladimir Alexandrovich Mau Director
Andrey Igorevich Akimov Director
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