PJSC LUKOIL says that its net profit calculated under Russian Accounting Standard (RAS) totaled RUB 8.42 billion in January-March 2018, up 41%, year-on-year.
Sales revenue excluding VAT and excise dropped 2.5 times to RUB 19.06 billion. The cost of sales grew by 1/4 to RUB 5.1 billion.
LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world accounting for more than 2% of the world's oil production and around 1% of the proved hydrocarbon reserves. Main activities of the Company are exploration and production of oil & gas, production of petroleum products and petrochemicals, and marketing of these outputs.