LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2013. The Company’s net income of $2,581 million decreased 4.0% compared to the fourth quarter of 2012. EBITDA was $4,775 million, which is a 2.3% increase q-o-q. Negative effect of foreign exchange differences on income tax expense had a significant impact on net income. Nevertheless, LUKOIL continues to show the best financial efficiency in the industry.
Sales revenues reached $33,770 million (-6.2% q-o-q). Net debt reached $3.9 billion, up 6.2 % in comparison with the beginning of the year.
Capital expenditures including non-cash transactions were $3.4 billion.
Lifting costs per boe of production reached $5.29, down 1.5% from the fourth quarter of 2012.
In the first quarter of 2013, LUKOIL Group total hydrocarbon production available for sale reached 2.196 million boe per day, which is a0.8% increase q-o-q. Crude oil and natural gas liquids production of LUKOIL Group in the first quarter of 2013 totaled 1.852 million bbl per day. Production of gas available for sale reached 344 thousand boe per day. In the first quarter of 2013 throughputs at the Company’s own and affiliated refineries reached 1.266 million barrels per day.
Measures aimed at higher efficiency and cost control allowed the Company to assuage the fall of financial indicators and maintain high operating efficiency in unfavorable external economic conditions.
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