Independent Russian oil firm Russneft recorded a net profit of 10.6 billion rubles ($314 million) in 2008, rebounding from a loss of 12.2 billion rubles in 2007, when the company was struggling with huge bills from Russian tax authorities. The profit followed a surge in revenues to a record $8.09 billion in 2008, up 20% from 2007, according to Russian accounting standards.
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