11:30 03/05/2006

MOSCOW, May 3 (RIA Novosti) - Rosneft said Wednesday its net profit in the first quarter of 2006 had risen seven times on the fourth quarter of 2005 to 23.3 billion rubles ($855.3 mln).

The Russian state-run oil giant said the increase was due to "increased earnings from oil exports [due to the growth of average market oil prices]," as well as to the falling dollar.

In 4Q05, Rosneft's net profit was 3.3 billion rubles ($121.1 million).

Rosneft's earnings in 2005 more than quadrupled to $24 billion against $5.3 billion in 2004. The company's net profit in 2005 grew likewise to $4 billion against $0.8 billion year on year.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/russia/20060503/47149943.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/russia/20060503/47149943.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Rosneft net profit rises sevenfold to $855 million in 1Q06</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">11:30</span> <span style="color:#5590bf; padding-right:7px;">03/05/2006</span> <span style="font-size:12px;">Rosneft said Wednesday its net profit in the first quarter of 2006 had risen seven times on the fourth quarter of 2005 to 23.3 billion rubles ($855.3 mln).<a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/russia/20060503/47149943.html" title="Rosneft net profit rises sevenfold to $855 million in 1Q06">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Rosneft net profit rises sevenfold to $855 million in 1Q06

11:30 03/05/2006 Rosneft said Wednesday its net profit in the first quarter of 2006 had risen seven times on the fourth quarter of 2005 to 23.3 billion rubles ($855.3 mln).>>

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