Quarterly Income Statement

Quarterly figures

(mln. USD)	03Q10	04Q10	01Q11	02Q11	03Q11	04Q11
Revenues
Refined products and oil and gas sales	8213	8903	9676	11231	11320	10924
Other	174	160	189	245	247	222
Total	8387	9063	9865	11476	11567	11146
Costs and Other Deductions
Cost of purchased oil, gas, petroleum products	1999	2134	2224	3060	2865	2668
Operating expenses	550	589	578	615	609	646
Selling, general and administrative expenses	414	449	456	398	408	512
Transportation expenses	705	769	800	896	863	832
Depreciation, depletion and amortization	463	414	424	505	525	480
Export duties	1566	1702	1766	2104	1992	2230
Taxes other than income taxes	1313	1430	1772	2113	2167	1917
Exploration expenses	11	37	22	12	12	28
Cost of other sales	93	112	117	161	158	139
Loss on sale of assets	-	-	-	-	-
Total	7114	7636	8159	9864	9599	9452
Operating income	1273	1427	1706	1612	1968	1694
Other Income (Expense)
Share in income of equity affiliates	35	64	59	99	79	12
Gain on investment	9	0	9	64	12	19
Interest income	7	21	14	14	21	16
Interest expense	-71	-76	-93	-76	-81	-74
Other (expense) income, net	-40	-217	11	-22	-90	36
Foreign exchange gain (loss), net	-32	-70	166	-106	-299	66
Total	-92	-278	166	-27	-358	75
Income before provision for income taxes	1181	1149	1872	1585	1610	1769
Provision for income taxes	279	242	416	313	268	176
Deferred income tax (benefit) expense	-5	-15	3	54	8	14
Total	274	227	419	367	276	190
Net Income	907	922	1453	1218	1334	1579
Less: Net income attributable to non-controlling interest	-42	-140	-16	-51	-63	-104
Net income attributable to Gazprom Neft	865	782	1437	1167	1271	1475
Basic and Diluted Earnings per Common Share	0.1833	0.1657	0.3046	0.2474	0.2694	0.3126
Weighted-Average Number of Common Shares Outstanding Basic and Diluted	4718	4718	4718	4718	4718	4718

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