Net income of OAO LUKOIL according to Russian Accounting Standards (RAS) in the first half of 2011 surged by 54.9 percent from the same period of 2010, to RUB 212.91 billion, the Company said.
Revenue rose by 4.9 percent to RUB 17 716 636. Income from investments in other companies increased as much as 1.6 times to RUB 221 908 806 000.
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 activity is located in Russia, and its main resource base is in Western Siberia. LUKOIL owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern and Western Europe, near-abroad countries. The Company's products are marketed in Russia, Eastern and Western Europe, in near-abroad countries and USA.
LUKOIL is the second largest private oil Company worldwide by proven hydrocarbon reserves. The Company has around 1% of global oil reserves and 2.4% of global oil production. LUKOIL dominates the Russian energy sector, with 18.6% of total Russian oil production and 18.9% of total Russian oil refining.