Lukoil Profits Rise Despite Dip in Production Volumes

摘要

Top independent Russian oil firm Lukoil said its net profit rose by 7.7% year-on-year in the first quarter as higher oil prices helped mask another dip in production, although the company did finally manage to stabilize output in its West Siberian heartland. Net income under US GAAP standards came in at $3.79 billion for the first three months of 2012, compared with $3.52 billion a year earlier. Revenues were up 19% at $35.26 billion, while earnings before interest, taxes, depreciation and amortization (Ebitda) were flat at $5.35 billion.