LUKoil first half profit up 24 pct to $4 bln

Russia's largest private oil company LUKoil increased its first half profit to US GAAP by 24 percent to $4.002 billion, the company said on Tuesday.

Russia's largest private oil company LUKoil increased its first half profit to US GAAP by 24 percent to $4.002 billion, the company said on Tuesday, in line with analysts' expectations in a RIA Novosti poll.

The company's second quarter profit amounted to $1.949 billion, the company said.

EBITDA stood at $7.433 billion. Sales revenues increased 42.7 percent year-on-year to $49.755 billion.

Production costs in January-June increased 23.7 percent year-on-year to $4.02 per barrel of oil equivalent due to the ruble's strengthening against the dollar as well as an increase in electricity and labor costs.

Capital costs including non-cash transactions amounted to $3.2 billion, up 4.9 percent year-on-year.

The group's first half total hydrocarbon production edged up 1.9 percent year-on-year to 2.262 million barrels of oil equivalent per day, including a 25.5 percent increase in gas production.

MOSCOW, August 31 (RIA Novosti)