25 Aug 2010 12:23

Lukoil to publish US GAAP results for H1 on Aug 31

MOSCOW. Aug 25 (Interfax) - Russian oil company Lukoil will publish its US GAAP results for the first half of 2010 on August 31, the company told Interfax.

It was earlier reported that Lukoil's US GAAP net profit in the first quarter of 2010 came to $2.053 billion, which is a year-on-year increase of 130%. The company's sales revenue totaled $23.902 billion, up 60% year-on-year, while EBITDA reached $3.729 billion from $2.414 billion in the same period of last year.

Company chief Vagit Alekperov indicated in min-June that Lukoil's financial results for 2010, based on the outcome for the past period, would be an improvement over 2009. The company posted 7.011 billion in US GAAP net profit for 2009, which was a 23.3% decrease from 2008. The company said hydrocarbon output in 2010 should go up by 1%-2%.