(Recasts, adds additional information in paras 3-4)
MOSCOW, October 11 (RIA Novosti) - Gazprom Neft, the oil arm of Russian energy giant Gazprom [RTS: GAZP], said Thursday its US GAAP net profit grew 3.9% year-on-year in January-June 2007 to $1.86 billion.
During the reporting period, the company's revenues dropped 8.7% to $9.24 billion due to lower world prices of crude and petroleum products, and changes in the company's sales structure.
Earnings before taxes, interest, depreciation and amortization (EBITDA) increased 3.3% in January-June to $2.71 billion, Gazprom Neft said.
Gazprom Neft is one of Russia's largest oil producers, handling downstream and upstream operations. It was known as Sibneft before April 2007.
