In January-September 2006, LUKOIL proceeds under RAS totaled RUB 549 bn, which is RUB 91.7 bn, or 20% more y-o-y, the Company reports according to AK&M.
The increase was mainly due to the growth in sale prices and sales volumes of oil and oil products.
At the same time, as the Company notes, the growth in its proceeds was reached under conditions of considerable increase in export duties.
The growth of domestic prices for oil and oil products outpaced considerably the growth of export prices (without export duty) during the 9 months of 2006, which caused the increase of prime cost by 39.9% to RUB 447.32 bn.
Gross profit for the 9 months totaled RUB 101.1 bn, which is 26.3% lower y-o-y.
In January-September, LUKOIL's net income slid by 26.8% to RUB 51.08 bn from RUB 69.777 bn in the same period of last year.
Its undistributed profit grew by 10% to RUB 222.808 bn from RUB 245.825 bn.
The Company's short-term liabilities grew 2.2-fold to RUB 219.5 bn, while long-term liabilities slid a bit (to RUB 21.6 bn from RUB 24.8 bn).
LUKOIL is the largest oil company in Russia. In 2005, LUKOIL Group produced 90.158 million tons of oil and 7.57 billion cubic meters of gas. As of January 1, 2005, LUKOIL's proven reserves of hydrocarbons were 20.331 billion barrels in oil equivalent, including 16.115 billion barrels of oil and 25.298 trillion cubic feet of gas. In 2005, the Company's net income under US GAAP grew by 51.7% to $6.44 billion. EBITDA rose by 46.7% to $7.657 billion.
At the same time, as the Company notes, the growth in its proceeds was reached under conditions of considerable increase in export duties.
The growth of domestic prices for oil and oil products outpaced considerably the growth of export prices (without export duty) during the 9 months of 2006, which caused the increase of prime cost by 39.9% to RUB 447.32 bn.
Gross profit for the 9 months totaled RUB 101.1 bn, which is 26.3% lower y-o-y.
In January-September, LUKOIL's net income slid by 26.8% to RUB 51.08 bn from RUB 69.777 bn in the same period of last year.
Its undistributed profit grew by 10% to RUB 222.808 bn from RUB 245.825 bn.
The Company's short-term liabilities grew 2.2-fold to RUB 219.5 bn, while long-term liabilities slid a bit (to RUB 21.6 bn from RUB 24.8 bn).
LUKOIL is the largest oil company in Russia. In 2005, LUKOIL Group produced 90.158 million tons of oil and 7.57 billion cubic meters of gas. As of January 1, 2005, LUKOIL's proven reserves of hydrocarbons were 20.331 billion barrels in oil equivalent, including 16.115 billion barrels of oil and 25.298 trillion cubic feet of gas. In 2005, the Company's net income under US GAAP grew by 51.7% to $6.44 billion. EBITDA rose by 46.7% to $7.657 billion.