The figures were published in the company's consolidated non-audited financial statements for January-June 2005.
The company's net profits for the same period last year were $339.8 million.
Rosneft, the world's second largest company in terms of proven reserves and the eighth largest crude producer, also said its total debt had declined 7.5% to $18.6 billion year-on-year in January-June under U.S. GAAP reporting standards.
Rosneft's short-term debt in the first half of the year was $7.1 billion against $7.7 billion in the same period last year in accordance with preliminary data. The company's credit debt accounted for $1.5 billion against $1.42 billion.
Rosneft's floating assets reached $7.3 billion as compared with $6.8 billion. The company's assets were worth $27.4 billion, with a capital stock of $5.7 billion.
Rosneft also said its US GAAP revenue had increased by 330% in the first half of 2005 to $9.864 billion from $2.301 billion in the same period last year.
Rosneft's revenues from oil and gas sales aggregated $6.720 billion as compared with $1.151 billion last year, while expenditures and other costs stood at $7.110 billion.
The company's operating profit amounted to $2.753 billion, while pre-tax profit stood at $3.663 billion, compared with $480.168 million in the same period last year.
During the reporting period, Rosneft channeled $61.219 million into dividend payments.
Rosneft Vice President Sergei Alekseyev said the company's debt would amount to $10.5-$11 billion by the end of the year.
"The debt will amount to $10.5-$11 billion by the end of the year, but we believe it will be easy to pay it off with EBIDTA at $7 billion," he said. "We plan to significantly lower the debt level after the initial public offering."
He also said the company had not been selling crude oil on the domestic market since August.
"Not a single ton of crude has been sold on the domestic market - it is all exported or refined," he said, adding that daily oil production totaled 6.731 metric tons in January-October.
In the first half of the year, oil production reached 35.2 million metric tons. Last year, 15 billion barrels of oil were produced, Alekseyev said.
According to Alekseyev, outside directors may be added to the Rosneft managing board in 2006.
"An outside director or directors may join Rosneft after the company makes the relevant corporate decision on consolidation and receives listing permission. To obtain this permission, the company must amend its charter and submit the necessary documents to the regulatory body," he said.
