OREANDA-NEWS. OJSC Rosneft (Rosneft or "the Company") today, May 15, reported its audited consolidated financial results in accordance with US GAAP for the full year of 2006.

In 2006, Rosneft continued to demonstrate industry leading organic crude oil production growth, substantially outpacing its Russian peers. Crude oil production of consolidated subsidiaries, including equity affiliates, has increased by 7,8% to 582.7 million barrels from 540,4 million barrels in 2005.

Natural and associated gas production has increased by 4,2% to 13,58 billion cubic meters (bcm) in 2006 from 13,03 bcm in 2005. The increase is primarily attributed to production growth at Krasnodarneftegaz and Purneftegaz.

In 2006, production of refined products, including at third-party refineries, amounted to 22,66 million tonnes, an increase of 6,6% over the 21,26 million tonnes produced in 2005. Output of oil products at proprietary refineries has increased by 1,3% to 10,49 million tonnes from 10,38 million tonnes in 2005.