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Russia's largest oil producer Rosneft reported on Tuesday net profits of $1.61 billion for the second-quarter of 2009, missing the average $1.72 billion forecast in a Reuters poll of analysts.
Revenues in the second quarter were $10.95 billion, down from $21.13 billion in the same period last year and in line with the forecast of $10.88 billion.
Earnings before interest, tax, depreciation and amortisation (EBITDA) were $3.57 billion, versus $7.05 billion in the second quarter of 2008 and higher than analysts' predictions of $3.48 billion.
Rosneft said it had reduced its net debt by $2.11 billion in the first half of 2009 to $18.95 billion.
(Reporting by Robin Paxton)
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