Wednesday, April 8, 2020

Lukoil Quarterly Profit Rises

November 26, 2019

(Photo: Lukoil)

Russia's second-largest oil producer Lukoil said on Tuesday its third-quarter net income rose 5% quarter on quarter to 190.4 billion roubles ($3 billion) helped by a lower effective income tax rate.

Its sales fell 8.1% from the second quarter to 1.95 trillion roubles reflecting lower oil prices and trade volumes.

($1 = 63.8345 roubles)

(Reporting by Anton Kolodyazhnyy and Vladimir Soldatkin; editing by Jason Neely)

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