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LUKOIL NET INCOME EXCLUDING NON-CASH WRITE-OFF REACHED $10.3 BILLION IN 2013, EBITDA - $19.3 BILLION

February 21, 2014



ENP Newswire - 21 February 2014

Release date- 20022014 - LUKOIL has published consolidated US GAAP financial statements for 2013.

The Company's 2013 net income reached $7,832 million. EBITDA (earnings before interest, taxation, depreciation and amortization) reached $16,668 million in 2013. Sales revenues were $141,452 million (+1.6% y-o-y). The positive dynamics of revenues was due to a y-o-y increase in hydrocarbon, petrochemicals and premium petroleum products production in 2013.

Net income for the fourth quarter of 2013 was negatively affected by $2,449 million non-cash losses due to write-off of Yuzhnoye Khylchuyu field, West Africa projects, Karpatneftekhim and ISAB plants, LUKOIL-Ecoenergo and other assets. Excluding the non-cash losses net income was $10,281 mln and EBITDA was $19,255 mln (+1,8% y-o-y).

Free cash flow in 2013 amounted to $643 million. Capital expenditures was $15,434 million in 2013.

In 2013, LUKOIL Group total hydrocarbon production available for sale increased by 1.5% y-o-y and reached 2,202 thousand boe per day.

Crude oil production of LUKOIL Group in 2013 increased 1.1% to 90.807 million tonnes. Production of gas available for sale increased by 2.3% to 20.391 bcm including 6.428 bcm produced internationally and 13.963 bcm in Russia.

Throughput at the Company's own and affiliated refineries increased by 0.4% to 66.3 million tonnes. Throughput the Company's refineries in Russia increased 1.8%.

Full consolidated US GAAP financial accounts of LUKOIL for 2013 are available on the Company's web sites: www.lukoil.com and www.lukoil.ru.

Press Contact:

Tel: +7 (495) 627-16-77

Email: media@lukoil.com


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Source: ENP Newswire


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