Russia`s state-controlled oil producer Rosneft announced on Monday a net loss under Russian Accounting Standards of 5.77 billion rubles ($175 million) in January-March 2009. In January-March 2008, Rosneft posted a net profit of 65 billion rubles. Rosneft, which became Russia`s largest crude producer after acquiring most of the assets of bankrupt oil firm Yukos through liquidation auctions in 2007, said its first-quarter loss had declined more than 90% compared with the fourth quarter of 2008, when the company posted a 65 billion-ruble loss. Rosneft earlier reported that its net profit calculated to Russian Accounting Standards declined 12.8%, year-on-year, in 2008 to 141.31 billion rubles ($4.2 billion). Crude production grew 9%, year-on-year, in 2008 to more than 110.1 million metric tons (807 million barrels) of oil. The company expects to produce 112.3 million metric tons (823 million barrels) of oil in 2009.