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Rosneft posts leap in revenues

Russia's largest state-controlled crude producer Rosneft announced its US GAAP net income had increased 138%, year on year, in the first nine months of 2007 to $9.91 billion.

Rosneft said its revenue in the reporting period grew by 31.6% to $32.75 billion.

EBITDA (earnings before interest, taxes, depreciation and amortization) grew 40.9%, year-on-year, in January-September 2007 to $9.03 billion.

Rosneft became Russia's largest crude producer after acquiring most of the assets of bankrupt oil firm Yukos through liquidation auctions in 2007. (RIA Novosti)