Galnaftogaz's Oil Product Sales Rise 61% YoY In 7M05

The company’s (GLNG: BUY) revenues from selling oil products through gas stations and in small bulk amounted to USD 148.6 mln for the period, up 61% from last year. The figures were reported by the company and do not include sales of non-oil products and services at gas stations, or some other total revenue components. The growth came primarily as a result of an oil product price surge, as Galnaftogaz increased its tonnage sales only by 8.8% for the period to 208.0 ths mt. Galnaftogaz’s gas station network encompassed 166 units as of Aug 17, 2005, with OKKO-branded stations comprising 64% of the company’s total stations.