29-08-06 Venezuela's state oil firm PdVSA reported net profits of $ 6.2 bn for the first seven months of this year, up from the same months of 2005, according to a company statement on its preliminary results.
Revenue for the period totalled $ 33.8 bn and operating profit was $ 15.8 bn, the company said.

Costs and expenses came to $ 7.8 bn, according to the results, which do not include operations abroad. Royalties paid to the Venezuelan government totalled $ 10.2 bn during the period.
PdVSA spent $ 5.6 bn on social works in the period.

The oil company has not published its 2005 and 2006 audited financial results due to a 63-day strike in 2002-03. External auditors are reviewing the 2005 results, which must go through the national assembly before being published. The company reported net profits of $ 5.00 bn in 2004, up more than 52 % from $ 3.28 bn in 2003.
PdVSA is South America's largest oil producer.