OREANDA-NEWS. August 24, 2010. JSC Gazprom Neft has published on its official web site (ir.gazprom-neft.com) the Company's consolidated financial statements for Q2 2010 and H1 2010, which have been prepared in compliance with US GAAP standards.

Revenues in Q2 2010 rose 52% to USD 8,026 mln (Q2 2009: USD 5,269 mln). Growth was driven by an 8,3% increase in production volumes and rising oil and oil products prices. Revenues for the H1 2010 were USD 15 322 mln. - 61% up from the corresponding period of 2009.

Earnings before interest, taxes, depreciation and amortisation (EBITDA)* for Q2 2010 was up 3% to USD 1,550 mln (Q2 2009: USD 1,501 mln). The rise in EBITDA was partly offset by a higher tax burden and an increase in natural monopolies tariffs. H1 2010 EBITDA was USD 3 136 mln, 28% higher than in H1 2009.

Net income in Q2 2010 and H1 2010 increased by 3% and by 42% to USD 747 mln and 1,501 mln respectively as compared to net income adjusted for the one-off gain following the Sibir Energy acquisition in Q2 2009 (USD 725 mln) and in H1 2009 (USD 1,060 mln).