Stock market quotes, forex, financial news, forex tools –

The end of big profits. Lukoil showed a decrease in profits for 2016 by almost a third

 Breaking News
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....
  • Nissan plans deep cuts due to the crisis A Japanese auto giant Nissan Motor Co. is experiencing a deep crisis provoked by the spread of the coronavirus pandemic. Amid a sharp decline in demand for its products, Nissan...

The end of big profits. Lukoil showed a decrease in profits for 2016 by almost a third

The end of big profits. Lukoil showed a decrease in profits for 2016 by almost a third
March 17
08:00 2017

Oil and gas giant Lukoil has prepared a report on net profit for the past year. The report reckons that the net profit (relating to the shareholders of the company) fell by 29% in 2016. In absolute figures, Lukoil’s profit for 2016 amounted to 206.794 billion rubles, which is 84.341 billion rubles less than in 2015.

Representatives of Lukoil explain the drop in profits solely by the exchange rate difference due to the volatility of the exchange rate. According to the experts of the oil and gas giant, the net profit without regard to the exchange rate difference increased by 8.9% compared to the previous reporting period.

The report also provides the information about the company’s total revenue for 2016. In connection with a significant drop in oil prices, revenue fell to 5.227 trillion rubles and amounted to 5.7491 trillion rubles. This is 9.1% less than in 2015.

The volumes of oil production also fell. The report highlights some facts related to the decrease in the production of liquid hydrocarbons by 8.4%. During the year, 686.3 million barrels of oil were extracted from the company’s oil rigs. The volume of the produced gas remained unchanged compared to 2015.

The material was prepared with the participation of Victor Kotov,
a leading analyst of the brokerage company VOSPARI.

Related Articles


  1. zcode
    zcode April 17, 17:22

    Everything is very open with a very clear explanation of the
    challenges. It was definitely informative. Your site is useful.
    Thank you for sharing.

    Reply to this comment
  2. 일본경마
    일본경마 May 27, 02:04

    Excellent way of telling, and nice paragraph to get facts regarding my presentation subject, which i am going to present in institution of higher education.

    Reply to this comment

Write a Comment