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Lukoil Q1 net profit up with higher sales

Russian integrated oil and gas company PJSC LUKOIL reported May 29 a net profit attributable to shareholders of the company amounting to 149.20 billion Russian rubles for the first quarter, topping 109.10 billion rubles a year ago.

Sales totaled 1.851 trillion rubles, topping 1.631 trillion rubles in the prior year. Lukoil said the better sales were due to a weaker ruble and higher volumes of oil and gas sales outside Russia, along with an increase in crude oil trading volumes.

EBITDA reached 298.10 billion rubles, up from 219.50 billion rubles a year ago.

Hydrocarbon production reached 2.41 million barrels of oil equivalent per day, topping 2.32 million boe/d in the prior year.

The company also produced 15.7 million tons of refined products during the quarter, up from 15.1 million tons in the first quarter of 2018.

As of May 28, US$1 was equivalent to 64.65 Russian rubles.