The earnings of US$2.43 billion (Ђ1.87 billion) beat an average forecast of US$2.34 billion (Ђ1.8 billion) in a poll of analysts conducted by Dow Jones Newswires.
Lukoil reported total revenues of US$18.25 billion (Ђ14.06 billion) for the quarter, up from US$16.19 billion the year before as the average price for its Urals blend of crude in the period was some 15 percent higher than a year earlier.
The company noted in a statement that its growing tax burden had held back profit growth: Lukoil said it paid US$22.3 billion (Ђ17.17 billion) in taxes over the full year, 28 percent more than in 2005, reports AP.
In an earlier statement the company said that its total crude production had risen over the year by 5.7 percent, with average production for the year of 1.912 million barrels per day.
The head of Russian Technologies, Sergei Chemezov, clarified the fate of anti-aircraft guided missiles that Russia was supposed to deliver to China
The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13