Surgutneftegas posts RAS-based revenue

Sales revenue of Surgutneftegas, one of Russia's leading oil and gas companies, under Russian Accounting Standards (RAS) went down 6.8 percent to RUR107.93bn (approx. USD4.18bn) in the first quarter of 2007 compared to the same period a year earlier, the company's report states according to RBC. Production cost surged 23 percent to RUR87.07bn (approx. USD3.37bn). Gross profit more than halved to RUR20.86bn (approx. USD808m) and pretax profit sank two-fold to RUR12.8bn (approx. USD496m).