Lukoil Reaps Financial Benefits of Refinery Upgrades

摘要

An improved petroleum products slate and better refining margins were instrumental in buoying Lukoil’s second-quarter financial results, which saw the Russian company’s upstream lag financially due to a weaker oil price and slightly stronger ruble. For the first half of 2017, earnings before interest, taxes, depreciation, and amortization (Ebitda) in dollar terms for Lukoil’s domestic downstream business increased 58% year on year, a high for the past 10 quarters, Chief Financial Officer Alexander Matytsyn said during a conference call on Wednesday.