Gazprom Neft Heads for Three-Month High on Oil, Net Income Jump

OAO Gazprom Neft headed for its highest close in three months as crude rallied and after the oil producer said third-quarter profit jumped 47 percent.

The company, controlled by Russia’s natural-gas export monopoly, rallied for a fourth day, adding 1.7 percent to 134 rubles by 5:45 p.m. in Moscow and was poised for the strongest closing level since Aug. 2.

Net income climbed to $1.27 billion from $865 million the same period a year earlier, Gazprom Neft, which is moving its headquarters to St. Petersburg from Moscow, said today on its website. Crude rose as much as $1.08 to $96.60 a barrel in New York trading.

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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