RIA Novosti reported that the Russian and British joint oil venture TNK-BP US GAAP net profit had increased by 34%YoY in July to September 2009 to USD 1.7 billion.

In the Q2 of 2009, TNK-BP made a net profit of USD 1.26 billion against USD 747 million in January to March 2009. The company revenues increased 26%QoQ to USD 10.3 billion in the reporting period.

TNK-BP revenues totaled USD 8.16 billion in the Q2 as compared with USD 6.4 billion in the first quarter. In January to September 2009, TNK-BP posted a net profit of USD 3.7 billion down by 44%YoY

TNK-BP is currently carrying out prospecting and exploration of oil deposits in West Siberia, the Volga-Urals region, East Siberia and Sakhalin.

(Sourced from RIA Novosti)