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LUKoil's RAS net profit falls 26.8% in 9M06

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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.

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