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Lukoils net income in the first half of 2011 is 69.1% higher y-o-y

August 31/2011

(Lukoil) -- Lukoil published consolidated US GAAP financial statements for the second quarter and first half of 2011. The companys net income was USD 6,768 million in the first half of 2011, which is 69.1% higher y-o-y, including USD 3,251 million in the second quarter. EBITDA in the first half of 2011 was USD 10,688 million, which is 43.8% higher y-o-y. Sales revenues were USD 64,538 million (+29.7% y-o-y). Positive dynamics of financial results was mainly due to increase in hydrocarbon prices and refining margin in the first half of 2011 compared to the respective period of 2010.

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