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Rosneft posts lower net profit
RBC, 29.07.2010, Moscow 11:52:24.Rosneft's net profit under RAS dropped 14.3 percent from RUB 81.325bn (approx. USD 2.69bn) in January-June 2009 to RUB 69.718bn (approx. USD 2.31bn) in the first half of 2010, the Russian oil company indicated in official documents today. In the second quarter alone, the company received a profit in the amount of RUB 18.464bn (approx. USD 611m), 2.8 times less than in Q1, when profit stood at RUB 51.254bn (approx. USD 1.69bn). Rosneft attributes the drop in net profit to lower sales profit due to an increase in export duties and mining tax, as well as a rise in other expenditures triggered by a negative debt liabilities surplus resulting from the dollar's sharp rise against the ruble.
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