Thursday 26 April 2018

Lukoil Q2 profits surge 13pc to $2.4bn

Moscow, August 30, 2014

Russia's number two oil company Lukoil yesterday (August 29) said its net profit rose by 13 per cent in the second quarter to reach $2.4 billion as production increased.

"The company continued to introduce and test new technologies focused on the enhancement of development efficiency of low-permeability gas reservoirs and new well flow rates," the company was quoted as saying in the Gulf Daily News, our sister publication.

The group launched a major programme last year to reverse a decline in output, which it said was increased in the first quarter this year by 3.2 per cent to 345 million barrels of oil equivalent. – TradeArabia News Service

Tags: Russia | Lukoil | oil production |

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