LUKOIL posts IFRS profit of RUB 298.3 bln in 9M’17, up 86.2% Y-o-Y
PJSC LUKOIL today released its condensed interim consolidated financial statements for nine months ended 30 September 2017 prepared in accordance with International Financial Reporting Standards (IFRS).
For the first nine months of 2017 profit attributable to PJSC LUKOIL shareholders was 298.3 bln RUB, up 86.2% year-on-year.
EBITDA increased to 207.6 bln RUB, or by 13.3% and 8.2% as compared to the fourth quarter of 2016 and the first quarter of 2016, respectively.
LUKOIL’s sales increased by 11.7% year-on-year to 4,274.3 bln RUB.
The growth was mainly driven by higher hydrocarbon prices as well as the increase in crude oil trading volumes, partially offset by stronger ruble and lower volumes of compensation crude oil from the West Qurna-2 project in Iraq.
For the first nine months of 2017 EBITDA increased to 607.8 bln RUB, or by 11.0% year-on-year.
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.
