print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all LUKOIL Oil Company press releases

LUKOIL Oil Company

May 25, 2005

LUKOIL publishes consolidated US GAAP financial accounts for 2004

Vagit Alekperov, LUKOIL President, presented the consolidated US GAAP financial accounts for 2004 at todayís meeting with investors in New-York.

The net profit in 2004 was $4,248 mln, which is $1,862 mln higher than in 2003 (excluding cumulative effect of change in accounting principle, extraordinary income and expenditure items, and the gain from sale of interest in the Azeri-Chirag-Gyuneshli project in the total amount of $1,315 mln). Tax payment to the Russian budget (excluding profit taxes) was $3,424 mln, which is 44% more than in 2003.

The net profit rose mainly due to favorable market conditions and improvement in expense control. At the same time the net profit growth was restrained by the rising tax burden, strengthening ruble and continuing increase in transportation expenses.

With the background of the strengthening ruble (18.5%) the average crude production expenses fell from $2.61 to $2.58 per barrel due to an increase in average flow rate per well from 9.7 to 10.7 tons per day (by 10.3%), and to restructuring of oil production assets in Perm region.

LUKOIL sales revenue in 2004 rose by $11,727 mln or by 53% y-o-y.

Total capital expenditures by LUKOIL in 2004 were $3,248  mln, which is $367 mln higher than in 2003.

According to LUKOILís estimates, total capital expenditures in 2005 will be $3,542 which is 21.3% higher than in 2004.

 

 


Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,
E-mail: pr@lukoil.com

 

 

 

Search by industry

Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer