Gazprom Neft Earnings Halved In H1 On Taxes, Weak Ruble

Russia’s Gazprom Neft reported a steep first-half earnings decline as taxes and weaker ruble realizations squeezed margins across upstream and refining. The producer’s net profit fell 54% year-on-year to 150.5 billion rubles, while the board backed a 17.3-ruble per-share interim payout, according to its first-half results, Reuters reported.  The company said it continued to prioritize project execution across its core oil and condensate hubs, but external headwinds, including export duties, mineral extraction levies, and transport…