Reduction in profit is not a hindrance for dividends growth of LUKOIL.
Edited by Rhod Mackenzie / 2015-03-05 07:06:55
Finance Oil and Gas Russia Dividends Financial results Shares Russia Oil and Gas Lukoil Oil Production and Refining
LUKOIL has published reports on the results of the previous year. The submission recorded revenue growth of 2% to $ 144.17 billion and reduced EBITDA by 4% to $ 15.98 billion. In turn, within a year the net profit of Lukoil fell immediately by 39% to $ 4.75 billion.
LUKOIL managed to increase its revenue mainly due to a serious increase in oil production by 7% and increase in the volume of its implementation. It is important to note that oil production in the main area of operation for the company is still decreasing as a consequence of the depletion of the resource base and water cut increase.
