Forecast: In Q1, Lukoil reduced its net profit under US GAAP 1. Times to $1.034 billion
Edited by Rhod Mackenzie / 2015-06-10 06:12:28
In the first quarter of 2015, the net profit of the largest Russian private oil company Lukoil under US GAAP decreased 1.7 times as compared to the same period last year to $1.034 billion, according to a consensus forecast, compiled by the RIA Novosti by results of survey of analysts.
Lukoil will publish its reports under US GAAP for the first quarter 2015 on Wednesday, June 10.
BCS’ experts believe that due to the higher proportion of refining capacity, located outside of Russia, Lukoil came under pressure of the recent tax maneuver - the company had to pay increased MET, while it fails to fully reap the benefits from the reduced export taxes and high share of oil refining.
