REUTERS Ukraine&#39;s largest state-owned gas producer Ukrgazvydobuvannya in the first half of 2018 (H1) reduced its net profit by 9.71% year-over-year (y-o-y), to UAH 14.283 billion (US$529.8 million) Ukrgazvydobuvanya&#39;s net revenue in January-June 2018 increased by 1.72% to UAH 37.035 billion ($1.4 billion), while its gross profit shrank by 8.46% y-o-y, to UAH 18.75 billion ($695 million), according to the company&#39;s report for H1 2018. Over the period under review, cost of sales at the enterprise was estimated at UAH 18.28 billion ($678 million), which was 14.8% up y-o-y. Read alsoPoroshenko calls on European partners to abandon Nord Stream-2 As UNIAN reported, Ukrgazvydobuvannya in 2017 increased its net profit by 2.6 times from 2016, from UAH 11.9 billion to UAH 30.5 billion, while its net income rose by 1.4 times, to UAH.75.1 billion. The company in the six months of 2018 increased natural gas production by 0.9% y-o-y, to 8.854 billion cubic meters (bcm). The state-owned Ukrgazvydobuvannya in 2017 boosted natural gas output by 4.8% to 15.25 bcm. UNIAN memo. Ukrgazvydobuvannya is Ukraine&#39;s largest gas producer, holding a 70% share in the total volume of the country&#39;s hydrocarbon production.