Rosneft net profit falls 50% to 81 bln rubles in H1
MOSCOW. July 29 (Interfax) - Rosneft saw unconsolidated net profit fall to 81.325 billion rubles in the first half of 2009 under Russian accounting standards, down from 161.25 billion rubles in the same period last year, the oil major said in a statement.
Rosneft posted a net loss of 5.769 billion rubles in the first quarter of 2009. The profit in the second quarter was 87.094 billion rubles.
The higher profit in the second quarter was due to "the increase in world prices on crude oil and product and the consequent increase in prices on the domestic market, rising production and sales volumes, and ruble strengthening against the dollar," the statement says.