Gazprom Neft exceeded the expectations of its shareholders last year, with a total output of 59.7 million tones, 4.3 percent up on 2011, says the company’s statement.

      Gazprom’s oil arm switched its refineries to the production of Euro-4 and Euro-5 fuels in 2012, two years before the official date set by the Russian government.

      The company also increased the daily volume of fuel pumping through each station, and with an average of 17.7 tonnes, it now leads in the Russian oil industry.

      According to a report on its website, Gazprom Neft’s consolidated net profit increased by 10%, reaching a record RUR 176.3 billion.