MOSCOW, October 31 (RIA Novosti) - LUKoil [RTS: LKOH] said Tuesday its net profit calculated to Russian Accounting Standards fell 26.8% year-on-year in the first nine months of 2006, to 51.09 billion rubles (about $1.89 billion).
Russia's largest oil producer said its net profit declined 42.5% quarter-on-quarter in July-September of 2006, to 7.9 billion rubles (about $293 million).
LUKoil attributed the lower figure to smaller revenue from its stakes in subsidiaries.
LUKoil is the world's second-largest oil producer by proven hydrocarbon reserves, estimated at 20.3 billion barrels of oil equivalent, including about 16 billion barrels of oil and 25 trillion cubic feet of natural gas.