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15

Rosneft Won From Getting Yukos Asset

Russia's state-owned oil company Rosneft has said its profits surge

Russia's state-owned oil company Rosneft has said its profits surge after buying former Yukos key asset Yuganskneftegaz.

Net income was $2.44bn in the six months to 30 June, from $340m a year ago. Sales hit $9.9bn from $2.3bn.

Russia is now planning a partial privatisation of Rosneft, with shares possibly going on sale next year.