OREANDA-NEWS. August 13, 2007. The IH-net profit of Bashneft (RAS) declined 7% to come to 5.985bln rub. from 6.432bln rub. prior year.

The IH revenues moved down 15% to 43.409bn rub. from 50.787bn rub.

The patters were affected by the USD rate and oil prices which drove down these figures 14.5%.

The gross profit reduced 21% to 20.564bn rub. from 26.015bn rub.

The IH pretax profit reached 8.184bn rub. from 8.728bn rub. prior year.

Bashneft is ranked as the tenth among the oil producers in Russia. In 2006 11.725mln ton were gushed out. In 2007 the output is assumed to be down 1.3% to 11.576mln ton; reserves are appraised to cover 300mln ton. The 2006-net profit (RAS) rose 47% to 11.495bn rub.

The share capital is worth 204792440 rub. split in 170169754 common and 34622686 preferred stocks of 1 rub. par. Bashkirsky Capital being under control of the republican president's son had 64.84% in 2006. But then it sold the shares to 4 charity funds Ural, Agidel, Yuruzan and Inzer. Other holders are Sistema AFK and Schildershoven having the blocking stake.