OREANDA-NEWS. On October 16, 2007 OJSC Rosneft (Rosneft or „the Company“)reported its consolidated financial results in accordance with US GAAP for the three and six months ending June 30, 2007, reported the press-centre of Rosneft.

Rosneft achieved new record levels of profitability and operating performance in the second quarter, both on an organic (i. e. without the effect of acquisitions) and inorganic basis. Production growth for the quarter reached 6,1% on an organic basis and 24,7% including the effect of acquisitions. Revenues and EBITDA rose in the second quarter of 2007 approximately 18,7% and 38,5% respectively excluding the effects of 2007 acquisitions and 25,4% and 54,8% on an unadjusted basis.

Sergey Bogdanchikov, president of Rosneft, said: „The results of the second quarter of 2007 demonstrate strong organic performance both through industry-leading production growth and increased profitability. These financial results include the recently acquired assets for approximately half the second quarter and further improvements in profitability will be realized as we continue to integrate and optimize our portfolio. We will continue to work to demonstrate leading financial performance and earnings growth among Russian oil majors.“

Full report see here: http://www.rosneft.com/news/pressrelease/16102007.html