LUKOIL says its loss for the first six months of 2020 amounted to RUB 64.7 bln as compared to RUB 330.5 bln profit for the first six months of 2019.
For the six months of 2020 sales totaled RUB 2,652.4 bln, down by 33.3% year-on-year.
According to the company, its sales dynamics in both periods was negatively affected mainly by lower hydrocarbon prices, lower hydrocarbon production volumes, lower oil and refined products trading volumes, and lower refined products sales volumes through filling stations. These factors were partially offset by ruble devaluation to US dollar.
EBITDA for the six months of 2020 amounted to RUB 295.3 bln, down by 53.2% year-on-year.
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.