Gazprom Neft reports drop in net profit

The net profit of Gazprom Neft (former Sibneft) dropped 0.95 percent to almost RUR11.46bn (approx. USD452.39m) in the first quarter of 2007 compared with the same period in 2006, RBC reports. Furthermore, the net profit tumbled 24.4 percent compared with the fourth quarter of 2006 due to a fall in non-operating earnings. Simultaneously, oil and oil product sales increased RUR6.051bn (approx. USD235.17m) against the fourth quarter of 2006.