Russia's fourth-largest oil producer, Surgutneftegas, saw net profits slip 21% under Russian accounting standards (RAS) in 2009 on the back of lower prices, but enjoyed a stronger final quarter. Surgut, the only one of the top five Russian oil firms not to report to international standards, said it made a 23.428 billion ruble ($795 million) profit in the last three months of 2009, down 1.5% from a year earlier but up 78% on the third quarter, giving it a net income of 113.87 billion rubles for the year (IOD Apr.3,p6).
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