MOSCOW, July 1 (RIA Novosti) - The Rosneft oil company's net consolidated profits audited according to the US GAAP standards rose to $386 million in 2003, or up 19.3% compared to 2002, reads the company's press release, a copy of which RIA Novosti received on Thursday.
The audit was conducted by Ernst & Young.
The company's receipts from the sales of products, labor and services were $3.641 billion, which is up 23% compared to 2002, according to the press release.
Its EBITDA (earnings before interest, tax, depreciation and amortization) grew 5.7% over the year reaching $1.033 million.
Rosneft's prospected oil reserves, recently acquired assets included, increased 9% to 327.7 million tons, according to the independent assessment by DeGolier & MacNaughton.
(Rosneft is the only 100% state-owned oil company in Russia.)
