Gazprom Neft's NIS Sees Difficult 2016 as Cheap Oil Hurts Profit

  • Company's annual profit fell more than 40% for second year
  • Negative currency effect acounts for 8.1 bilion dinars

Naftna Industrija Srbije, the Serb oil producer and refiner controlled by OAO Gazprom Neft, reported its profit dropped more than 40 percent for a second straight year and expects further financial difficulties on low prices and currency volatility.

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