MOSCOW, July 28 (RIA Novosti) - The Russian-British joint oil venture TNK-BP said on Tuesday its U.S. GAAP net profit had dropped 56.5% year-on-year in January-June 2009 to $2 billion.
In the second quarter of 2009, TNK-BP received a net profit of $1.26 billion against $747 million in January-March 2009.
The company's revenues declined 47% to $14.5 billion in January-June 2009. At the same time, TNK-BP's revenues totaled $8.159 billion in the second quarter as compared with $6.328 billion in the first quarter.
Commenting on the company's performance in the first half of 2009, TNK-BP acting CEO Mikhail Fridman said that the company showed good results in the second quarter, as well as in the first quarter, which were positively influenced by the signs of recovery on global oil and gas markets.
TNK-BP is currently carrying out prospecting and exploration of oil deposits in West Siberia, the Volga-Urals region, East Siberia and Sakhalin.
