Top private Russian oil firm Lukoil said Tuesday that net profit dipped 3.9% to $9.144 billion in 2008 from $9.511 billion in 2007 after a poor fourth quarter eroded record gains in the first nine months of the year. Lukoil lost $1.62 billion in the last three months of 2008 on the back of lower oil prices and the Russian ruble's sharp devaluation against the dollar. Profits totaled $10.765 billion in January-September, according to US GAAP standards.
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