"LUKOIL" for 2008, lowered its net profit for the US GAAP to 3.9% to 9.144 billion dollars

LUKOIL-up to 2008, compared with the previous year reduced the amount of unaudited net profit calculated in accordance with international accounting standards in the US GAAP 3.9% to 9.144 billion dollars on this, said the record company.

Revenue Lukoil with increased 31.5% to 107.68 billion dollars

"LUKOIL" notes that in 2008, despite the global economic crisis and falling oil prices, operating cash flow of the company rose by 31.5% to 14.312 billion dollars. This free cash flow reached a record 3.775 billion dollars, more than 2 times higher than that of 2007. Value EBITDA (earnings before deducting interest, tax, depreciation and amortization) grew by 1.1% and amounted to 15.552 billion dollars.

However, it should be noted that net income minus the cost of exploration work, loss on disposal and impairment of assets and the financial result for the exchange in 2008 grew by 13.9% and amounted to 11.219 billion dollars.

In 2008, the company has paid 38 billion dollars of taxes that the 36.3% increase compared to 2007.

Unit cost of extraction of hydrocarbons in the fourth quarter of 2008 decreased by almost 7% compared with the third quarter of 2008 - up to 4.01 dollar per barrel of oil equivalent (AD). Overall in 2008, the unit costs of extraction amounted to 4.12 dollars per barrel AD

Capital expenditure, including non-monetary transactions in 2008 amounted to 10.6 billion dollars. In doing so, almost 25% was invested in new projects to extract oil and gas reserves in the Caspian Sea, Yamal and in the Timan-Pechora.

As previously reported, net income Lukoil on to Russian Accounting Standards in 2008 increased by 1.6% over the previous year and amounted to 67.19 billion rubles.

LUKoil in 2009 to increase oil production to 1-1.5%.

As reported by the head of the company Vagit Alekperov, the prognosis Lukoil production in Russia in 2009 was 90.8 million tons.

According to CDU TEK, harvesting of Lukoil in Russia in 2008 amounted to 90.2 million tons of oil. According to preliminary data the company itself, last year the volume of hydrocarbon production group "LUKOIL" (production subsidiaries and share in the production of dependent organizations) amounted to 114.6 million tons of fuel, which is 1.5 million tons more than in 2007. The proportion of "Lukoil" in global oil stocks is about 1.3% of global oil production - about 2.1%, it accounts for 18% of oil production and 18% of total Russian oil refining. The authorized capital of "Lukoil" is 21.26 million rubles, it is divided into ordinary shares of nominal value of 0,025 rubles. 20% of the shares owned by U.S. ConocoPhillips. The President of Lukoil Vagit Alekperov directly and indirectly a holder of more than 20% of the shares of a company vice president Leonid Fedun - about 10% of the shares.