MOSCOW, October 27 (RIA Novosti) - The Russian-British joint oil venture TNK-BP said on Tuesday its U.S. GAAP net profit had increased 34% year-on-year in July-September 2009 to $1.7 billion.
In the second quarter of 2009, TNK-BP made a net profit of $1.26 billion against $747 million in January-March 2009.
The company's revenues increased 26% quarter-on-quarter to $10.3 billion in the reporting period.
TNK-BP's revenues totaled $8.16 billion in the second quarter as compared with $6.4 billion in the first quarter.
In January-September 2009, TNK-BP posted a net profit of $3.7 billion, a 44% decline on the same period last year.
TNK-BP is currently carrying out prospecting and exploration of oil deposits in West Siberia, the Volga-Urals region, East Siberia and Sakhalin.
