(LUKOIL) -- LUKOIL published consolidated US GAAP financial accounts for the third quarter and nine months of 2010. The Company's net income was $6,820 million in the nine months of 2010 (including $2,818 million in the third quarter), which is 29.0% higher y-o-y. EBITDA increased by 17.1% in the nine months of 2010 and amounted to $11,985 million. Revenues from sales were $76,272 million.
Capital expenditures including non-cash transactions in the nine months of 2010 remained flat y-o-y and amounted to $4.7 billion. Strong financial discipline enabled the Company to generate record high free cash flow, which reached $6,964 million in the nine months of 2010, compared to $1,442 million in the nine months of 2009. Despite the share buy-back in the third quarter of 2010, which amounted to $4.42 billion, the Company managed to achieve good financial results.
The Company's tax expenses, including excise and export tariffs, totalled $22.3 billion in the nine months of 2010, including an income tax expense of $1.7 billion. Lifting costs per boe of production in the nine months of 2010 were $4.04, which is a 19.2% increase y-o-y. The growth was mainly due to the real rouble appreciation, which reached 14%.