Quarterly net income of 134 billion roubles ($2 billion) left Rosneft with a first-half figure of 190 billion roubles, down 26.1% on the first six months of last year.
Analysts polled by Reuters had expected a quarterly profit of 101.2 billion roubles.
First-half revenue dropped 7.5% to 2.6 trillion roubles, with the quarterly figure as 1.3 trillion roubles, despite a 2% year-on-year increase in hydrocarbon production to 5.1