Lukoil Sees 1Q 2013 Profit Drop by a Third
MOSCOW - OAO Lukoil Holdings, Russia's No. 2 crude oil producer, said Tuesday its net profit for the first quarter dropped by almost a third from the same period last year on the back of lower hydrocarbon prices and higher operating expenses.
Lukoil said net profit for the period was $2.58 billion, compared with $3.79 billion last year. Earnings before interest, taxation, depreciation and amortization, or Ebitda, fell 10.7% on the year to $4.78 billion. Revenue slipped 4.2% to $33.8 billion.
Daily hydrocarbon output for the period fell 0.1% to 2.2 million barrels of oil equivalent a day.
Capital expenditure in the first three months of this year rose to $3.4 billion from $2.5 billion last year.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire (Oct 05)
- Russia's Lukoil Eyes Decade Of Oil Output Growth (Sep 20)
- Lukoil Finds Oil at Iraq Well (Feb 22)