Consolidated net income rose to $2.28 billion in 2003, from $1.16 billion a year earlier, Sibneft said in a statement. Revenue rose 41 percent to $6.72 billion, based on U.S. generally accepted accounting principles. The company also benefited after slashing its effective tax rate to 7 percent. The rate compared with 12 percent in 2002 and Russia's statutory rate of 24 percent. Sibneft received tax breaks for its subsidiaries, the company said without providing specifics. Taking into account obligatory investments in social infrastructure that were needed to qualify for tax breaks, last year's effective tax rate in fact stands at 15 percent and will rise to 20 percent this year, chief operating officer Alexander Korsik said in a conference call. PIN//Combined Sources