Lukoil 3Q Sales, Earnings Rise on Higher Hydrocarbon Prices

By Adam Clark Features Dow Jones Newswires

Lukoil PJSC (LKOH.MZ) said Wednesday that its sales and earnings rose in the third quarter of 2017 from the prior quarter, boosted by higher hydrocarbon prices.

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The Russian oil producer said its earnings before interest, tax, depreciation and amortization for the three months to Sept. 30 came to 221.1 billion rubles ($3.79 billion), up from 179.00 billion in the earlier quarter.

Quarterly sales came to 1,483.5 billion rubles, compared with 1,359.2 billion in the earlier quarter.

Lukoil said in addition to higher sales prices, earnings were boosted by higher gas production in Russia and Uzbekistan and a decrease in expenses.

The company added that in the third quarter of 2017 its capital expenditure decreased 4.6% to 118.9 billion, lower than the previous quarter due to lower investments in Uzbekistan and seasonal shifts in West Siberia.

Moscow-listed shares are down 0.7% at RUB3318.50 at 1021 GMT.

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Write to Adam Clark at adam.clark@dowjones.com; @AdamDowJones

(END) Dow Jones Newswires

November 29, 2017 05:42 ET (10:42 GMT)