Gazprom Neft provided consolidated earnings guidance for the year ended December 31, 2017. For the year, Company revenue including duties (sales) for the twelve months ended 31 December 2017 is expected to reach RUB 2 trillion, an increase of more than 18% year-on-year. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) is likely to reach RUB 551 billion up 20.8% year-on-year. Net profit attributable to Gazprom Neft PJSC shareholders for the 12 months of 2017 is expected to reach RUB 253 billion, up 26.5% year-on-year. This growth in key financial metrics in 2017 is due to improved market conditions, the successful development of new initiatives in hydrocarbon production and in increasing retail sales, and effective management initiatives. Improved operating cash flow and the completion of key infrastructure investments at new upstream projects resulted in free cash flow increasing to RUB 65 billion in 2017. Hydrocarbon production including Gazprom Neft's share in production at joint ventures reached 89.75 million tonnes of oil equivalent in 2017, an increase of 4.1% year-on-year. This growth was attributable to increased production at new assets including the Novoportovskoye, Messoyakhskoye and Prirazlomnoye fields, as well as increasing production in Iraq. The company expects Cash flow from operations of RUB 422 billion.