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LUKoil chief announces annual net profit estimates

January 14, 2008 | RBC

According to preliminary data, LUKoil Group's net profit amounted to $8bn in 2007, the Russian oil giant's President Vagit Alekperov told a press conference following a Board of Directors meeting on Friday. As net profit stood at $7.5bn in 2006, the year-on-year increase is estimated at 6.67 percent. The chief executive specified that the announced data was preliminary and could change after the audit, with the revised result likely to be higher.

LUKoil's investment program topped $11bn in 2007, with some 80 percent of that amount going towards the upstream business, and more than 20 percent invested in the development of oil refining and the sales network.

Asked by RBC, Alekperov also said that LUKoil spent roughly $300m on repurchasing its shares on the free market as part of the announced three-year share option plan.

Company: Lukoil

Full company nameLukoil PJSC
Country of riskRussia
Country of registrationRussia
IndustryOil and gas

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