OREANDA-NEWS  On 03 October was announced, that according to the released financial results under US GAAP, Gazprom Neft net income reached USD 2 196 mln. in 2 Q 2008, which exceeds the Q2 2007 result by 84,5% (USD  1 190 mln.)

Earnings before interest, income tax, depreciation and amortization (EBITDA) in Q2 2008 amounted to USD 3 093 mln. and increased by 70,6% comparing with Q2 2007 EBITDA (USD 1 813 mln.)

Revenues in Q2 2008 rose by 92,3% to USD 9 811 mln. vs. USD 5 102 mln. in Q2 2007.

Net income in 1H 2008 was USD 3 607 mln., which exceeds the 1H 2007 result by 93,7% (USD  1 862 mln.)

EBITDA in 1H 2008 increased by 74,6% compared with 1H 2007 result and reached the level of USD  5 119 mln.

Revenues in 1H 2008 amounted to USD 17 677 mln., what is 91,2% higher that in the same period of 2007.

The improvement of financial results in Q2 2008 and 1H 2008 was due to an increase in oil and oil products market prices; high refining margins; an increase in oil and oil products distribution volumes both domestically and for export.

Detailed information are available here.