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Surgutneftegaz oil firm reports 80% Q2 net profit drop

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14:43 30/07/2009

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MOSCOW, July 30 (RIA Novosti) - Russian oil company Surgutneftegaz said on Thursday its net profit calculated to Russian Accounting Standards decreased 80% year-on-year in April-June 2009 to 8.47 billion rubles ($266 million).

Surgutneftegaz, which accounts for 13% of Russia's crude production, gave no explanation for the quarterly net profit decline.

At the same time, the company's half-yearly profit increased 6.3%, year-on-year, to 77.26 billion rubles ($242 million).

The oil company is based in the Tyumen Region in Western Siberia.

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Surgutneftegaz oil firm reports 80% Q2 net profit drop

14:43 30/07/2009 Russian oil company Surgutneftegaz said on Thursday its net profit calculated to Russian Accounting Standards decreased 80% year-on-year in April-June 2009 to 8.47 billion rubles ($266 million).>>

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