Russia's Gazprom saw net profits in- crease by 67% in the first half of the year as strong domestic gas sales helped offset lower prices on exports to Europe. The state-controlled company posted net income of 495 billion rubles ($16.05 billion) under international fi- nancial reporting standards in the first six months of 2010, up 67% on the 296 billion rubles profit recorded a year ear- lier. Profit for the second quarter alone fell 12% year-on-year to 170 billion rubles but still surpassed analysts' ex- pectations.
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