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Aug. 28, 2015, 7:57 AM
- Lukoil (OTCPK:LUKOY, OTC:LUKOF) says its Q2 net profit fell 58% to $1B from $2.39 billion in the year-ago period on 26% lower revenues of $28.1B, while EBITDA tumbled 35% Y/Y to $3.6B.
- Russia's largest private oil company says results were affected by the sharp decrease in hydrocarbon prices and a $324M non-cash writeoff.
- Lukoil's H1 oil and gas production rose 4.8% to average 2.37M boe/day, as oil and condensate output gained 5.2% to 2.04M bbl/due to production gains in Iraq and Russia’s Timan Pechora, Volga and Urals regions.
Jun. 10, 2015, 8:46 AM
- Lukoil (OTCPK:LUKOY, OTC:LUKOF) says Q1 net income fell 60% Y/Y to $690M from $1.73B in the year-ago period, missing analyst estimates, after crude prices collapsed and payments from Iraq declined.
- Lukoil says it received $642M in payments from Iraq’s West Qurna-2 field vs. $1.05B in the previous quarter, as government funds were eroded by lower oil prices and the rising cost of fighting Islamic State militants.
- Q1 revenues fell 35% Y/Y to $23.2B from $35.7B a year ago; capital spending totaled $2.43B, down 25% Y/Y, and the decline in investment boosted free cash flow, which quadrupled to $728M.
Mar. 3, 2015, 8:23 AM
- Lukoil (OTCPK:LUKOY, OTC:LUKOF) reports that its 2014 net income fell by 39% to $4.75B, falling short of analyst expectations despite revenue rising by 2% to $144B, due to weaker oil prices and impairment losses; quarterly results were not provided.
- EBITDA declined 4% Y/Y to $15.98B, also missing analyst consensus for $19.5B.
- The impairments included dry-hole writeoffs of $794M on projects in Ivory Coast, Ghana and Russia, as well as a $761M charge related to Tsentralno-Astrakhanskoe gas condensate field in the Volga region.
- Oil and gas production rose 5% to the 2.31M boe/day, thanks to the addition of output from the West Qurna-2 deposit in Iraq.
May 29, 2014, 11:49 AM
- Lukoil (LUKOY, LUKOF) says its Q1 net earnings fell by a third to $1.73B, down from $2.59B in the year-ago period, despite rising oil production due to a write-off and ruble depreciation.
- Russia's largest private oil producer says results were hit by a $358M loss on the $1.2B disposal of a 50% stake in Caspian Investment Resources to China's Sinopec.
- Lukoil also reported a $270M loss from currency transactions, as the ruble lost more than 10% in the quarter following the crisis in Ukraine.
- Revenue rose to $35.7B in Q1 from $33.8B in the year-ago period.
Aug. 30, 2013, 8:45 AM
- Lukoil (LUKOY.PK, LUKOF.PK) says its Q2 net profit more than doubled - to $2.1B vs. $1.02B - from last year, when it was hit by a large income tax expense; analysts had forecast $2.25B.
- Revenues grew 8.2% to $35.1B from $32.4B last year; analysts had foreseen flat sales.
- EBITDA increased 25.9% to $4.36B from $3.46 a year ago, in line with expectations.
- Total production rose 2.3% Y/Y to 2.19M boe/day.
- Lukoil acquired the Samara-Nafta oil producing company from Hess during Q2, boosting results.
LUKOIL is one of the world's leading vertically integrated oil & gas companies. Main activities of the Company are exploration and production of oil & gas, production of petroleum products and petrochemicals, and marketing of these outputs. Most of the Company's exploration and production... More
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