February 22, 2011 / 10:21 AM / 9 years ago

Russia's Gazprom Neft revises down profit on fine

MOSCOW, Feb 22 (Reuters) - Gazprom Neft (SIBN.MM), the oil arm of Russia’s gas export monopoly Gazprom (GAZP.MM), said on Tuesday it had revised down fourth-quarter net income due to a fine levied by the anti-monopoly watchdog.

The company said its fourth-quarter profit now stands at $782 million, down from $873 million as reported earlier this month.

The company said it set aside $198 million in provisions in 2010 in connection with the fine imposed by the Federal Anti-monopoly Service for fuel price increases. (Reporting by Vladimir Soldatkin; editing by Maria Kiselyova)

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