Net profit of LukOil OJSC in 2009 by US GAAP decreased by 23.3% compared to the same period of 2008, to $7.011 billion, the Company statement said. The LukOil's net profit excluding one-time write-offs (including write-off costs of the project Anaran in Iran, which the company left because of international sanctions) totaled $7.352 billion.
EBITDA of the company in 2009 totaled $13.475 billion, a 14.7% cutback.
Revenues totaled $ 81.083 billion. Free cash flow in 2009 totaled $2.36 billion. Dynamics of the financial results of LukOil was significantly better than the dynamics of prices for Urals brand crude oil, which fell 35.5% over the year.
Specific costs for production of hydrocarbons in 2009 amounted to $3.56 a barrel, having decreased by 14% compared to $4.12 a barrel in 2008.
Capital expenditures, including non-cash transactions, amounted in 2009, to $ 6.5 billion, or a 38% drop from 2008. The reduction of capital costs is in accordance with the anti-crisis program developed by company early this year.
Production of hydrocarbons by LukOil Group in 2009 amounted to 2.212 million barrels/day, 0,8% more than in 2008, including the daily oil production 2.7% rise, to 1.972 million barrels a day.
Oil production in 2009 totaled 97.62 million tons. Oil production in the South-Hylchuyusk field in the Timan-Pechora, put into operation in the Q3 of 2008, reached 7 million tons. Production of marketable gas by the Company shrank by 12.5% and amounted to 14.90 billion cubic meters, including 4.24 billion cubic meters produced overseas, in Russia - 10.66 billion cubic meters.
The volume of oil refining at the Company’s refineries, including the share of oil and oil products on the complexes of ISAB and TRN, rose in 2009 by 11,4% and amounted to 62.70 million tons. The increase in processing volumes at Russian refineries of the Group amounted to 0.6%, at foreign refineries to 50.8%.
Oil exports in 2009 gained 6.9%, to 42 million tons (844.000 barrels a day), mainly due to an increase in oil exports from the South Hylchuyusk field through Varandey Terminal. Export of petroleum products increased by 7.7%, to 27.8 million tons. Total volume of crude oil and petroleum products rose by 11.9% compared with 2008’s numbers and amounted to 150.7 million tons.
The measures to increase performance, developed early this year, allow the company to successfully overcome the difficult macroeconomic situation and maintain positive free cash flow.
LukOil is one of the leading vertically integrated oil companies. The principal activities of the Company are exploration and production of oil and gas, production of oil products and petrochemicals, and marketing of these products. The Company is largely engaged in the exploration and production on the territory of the Russian Federation. Its main resource base is in Western Siberia. LukOil owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern and Western Europe, as well as neighboring countries. Most products are sold on the international market. LukOil petroleum products are sold in Russia, Eastern and Western Europe, the CIS and the USA.
EBITDA of the company in 2009 totaled $13.475 billion, a 14.7% cutback.
Revenues totaled $ 81.083 billion. Free cash flow in 2009 totaled $2.36 billion. Dynamics of the financial results of LukOil was significantly better than the dynamics of prices for Urals brand crude oil, which fell 35.5% over the year.
Specific costs for production of hydrocarbons in 2009 amounted to $3.56 a barrel, having decreased by 14% compared to $4.12 a barrel in 2008.
Capital expenditures, including non-cash transactions, amounted in 2009, to $ 6.5 billion, or a 38% drop from 2008. The reduction of capital costs is in accordance with the anti-crisis program developed by company early this year.
Production of hydrocarbons by LukOil Group in 2009 amounted to 2.212 million barrels/day, 0,8% more than in 2008, including the daily oil production 2.7% rise, to 1.972 million barrels a day.
Oil production in 2009 totaled 97.62 million tons. Oil production in the South-Hylchuyusk field in the Timan-Pechora, put into operation in the Q3 of 2008, reached 7 million tons. Production of marketable gas by the Company shrank by 12.5% and amounted to 14.90 billion cubic meters, including 4.24 billion cubic meters produced overseas, in Russia - 10.66 billion cubic meters.
The volume of oil refining at the Company’s refineries, including the share of oil and oil products on the complexes of ISAB and TRN, rose in 2009 by 11,4% and amounted to 62.70 million tons. The increase in processing volumes at Russian refineries of the Group amounted to 0.6%, at foreign refineries to 50.8%.
Oil exports in 2009 gained 6.9%, to 42 million tons (844.000 barrels a day), mainly due to an increase in oil exports from the South Hylchuyusk field through Varandey Terminal. Export of petroleum products increased by 7.7%, to 27.8 million tons. Total volume of crude oil and petroleum products rose by 11.9% compared with 2008’s numbers and amounted to 150.7 million tons.
The measures to increase performance, developed early this year, allow the company to successfully overcome the difficult macroeconomic situation and maintain positive free cash flow.
LukOil is one of the leading vertically integrated oil companies. The principal activities of the Company are exploration and production of oil and gas, production of oil products and petrochemicals, and marketing of these products. The Company is largely engaged in the exploration and production on the territory of the Russian Federation. Its main resource base is in Western Siberia. LukOil owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern and Western Europe, as well as neighboring countries. Most products are sold on the international market. LukOil petroleum products are sold in Russia, Eastern and Western Europe, the CIS and the USA.