icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Lukoil posts 1Q 2011 net profit of $3.5 billion

Lukoil posts 1Q 2011 net profit of $3.5 billion
Russian oil producer, Lukoil, has posted a 1Q 2011 net profit of $3.5 billion under US GAAP.

The bottom line is up 71.3% year on year, with EBITDA also increasing 43.3% to $5.3 billion, on the back of sales revenues rising 23.9% to $29.6 billion from$23.9 billion in 1Q 2010.Lukoil attributed the figures to increased global crude prices, increased production and management effort to increase efficiency and improve cost control.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts