Rus News Journal

LUKOIL net profit in 2008. Net profit NK " has grown on 3 %

; LUKOIL under the Russian standards of accounting (RSBU) in 2008. Has grown on 3 % in comparison with 2007. Also has made 67,22 mlrd rbl. As they say in the company message, following the results of IV quarter 2008. LUKOIL net profit has made 2,32 mlrd rbl., having reduced in comparison with III quarter six times.
company net profit on RSBU for 9 months 2008. Made 64,9 mlrd rbl. (growth on 30,6 % in comparison with the same period 2007.) . In LUKOIL materials it is noticed that a principal cause of reduction of net profit in IV quarter 2008. There was a sharp decrease in the world prices for oil.
we will remind, on March, 27th LUKOIL has informed that has received dead loss from an exchange rate difference of currencies, write-offs on dry chinks and a part of cost of stocks of oil and oil products on NPZ and the gas station in IV quarter 2008., According to preliminary data, at level 1,97 mlrd dollars In particular, a loss from an exchange rate difference for IV quarter 2008. Decrease in a rouble exchange rate and euro in relation to dollar is preliminary estimated in 950 million dollars
renders a positive effect on operational costs, capital expenses and a monetary stream of the company, however cumulative change of a pure monetary position of LUKOIL has led to loss occurrence on exchange rate differences.
Among principal causes of its occurrence the corporation names decrease in the cost of a rouble debt receivable expressed in dollars and the VAT and other taxes to compensation, and also an euro course change to dollar which negative impact on results on some international operations has made.
Besides, LUKOIL in connection with absence of commercial opening under some projects expects write-offs for the sum about 170 million dollars under article Expenses on geological prospecting (write-offs on dry chinks). From - for sharp falling of the price of realisation in the last quarter 2008. A loss from write-off of a part of cost of stocks of oil and oil products on NPZ both the gas station and a loss from depreciation of cost of actives are preliminary estimated in 850 million dollars
LUKOIL Net profit on RSBU for 2007. Has made 65,2 mlrd rbl., having increased in comparison with 2006. On 18,2 %.
LUKOIL - one of the largest independent oil companies in the Russian Federation. Authorised capital stock NK LUKOIL makes 21 million 264 thousand 081 rbl. 37,5 copeck and it is divided into 850 million 563 thousand 255 ordinary actions. At the moment the head of the company Vahid Alakbarov is the largest shareholder of LUKOIL (20,6 %), 9,25 % belong to the vice-president of the company L.Fedunu. 20 More % of actions of LUKOIL own American ConocoPhillips.