MOSCOW, August 15 (RIA Novosti) - Rosneft [RTS: ROSN] posted a 36.2% drop in net profit according to Russian Accounting Standards (RAS) to 38.3 billion rubles ($1.5 bln) in the first half of the year, the state-controlled oil producer said.
The company said net profit declined in the reporting period due to penalties paid for the tax arrears of subsidiary Yuganskneftegaz, the former core production unit of the now bankrupt oil firm Yukos, and extra profit tax on proceeds from the repayment of debts by Yukos, and the reversal of provisions earlier made for these liabilities.
Rosneft's net profit decline in January-June was also due to exchange rate differences and the larger corporate property tax resulting from the consolidation of subsidiaries, the company said.
