Russia’s second-largest oil producer, saw its January-September net profit more than double to 647.9 billion roubles (USD10.51 billion), said the company.
Sales rose by 1.5 times to 2.335 trillion roubles. Revenue increased by 1.5 times - up to 2.334 trillion rubles, cost - by 30%, up to 1.425 billion rubles, gross profit - 2 times, up to 909 billion rubles, profit from sales - 2.3 times, up to 798 billion rubles , profit before tax - 2.3 times, up to 712 billion rubles.
Russian accounting standards typically do not take into account financial results of subsidiaries.
We remind, Italian authorities have provided Lukoil with a "comfort letter" to help a refinery it owns in Sicily get bank financing to buy non-Russian oil and remain operational. The move is aimed at staving off worries that Lukoil's ISAB refinery, which accounts for around 20% of Italian refining capacity, stops working due to an embargo on seaborne Russian oil that comes into force on Dec. 5. ISAB has been forced to rely solely on Russian oil after creditor banks halted financing and stopped providing guarantees needed to buy oil from alternative suppliers.
mrchub.com