Russia's
largest oil producer OAO Rosneft (ROSN.RS) Monday said second-quarter net
profit rose 59% on year on higher oil prices and increased crude output at its
Vankor field.
London-listed Rosneft said net profit under U.S. Generally Accepted Accounting
Principles rose to $2.56 billion from $1.61 billion in the second quarter of
2009, slightly trailing a forecast of $2.6 billion in a Dow Jones Newswires
survey of seven analysts.
Revenue increased 40% to $15.43 billion from $10.95 billion a year earlier,
boosted by a rise in oil output in the three-month period--primarily due to the
launch of Russia's
Vankor field in August. Rosneft produced 2.315 million barrels a day in the
quarter.
Earnings before interest, taxes, depreciation and amortization, or Ebitda,
totaled $4.75 billion in the period, up from $3.57 billion a year earlier.