According to GAAP, LUKoil's consolidated net profits amounted to $243m in the first half of 2002 compared to $680m in the corresponding period last year, the press service of the company reported. Sales proceeds were $2.847bn compared to $3.335bn in the first six months of 2001.
Operating expenses of the company dropped from $1.067bn in the period from January to June 2001 to $1.053bn in the first six months of 2002. The volume of taxes (not taking into account profit tax) increased from $275m to $377m.
Operating profits decreased from $891m in the first half of 2001 to $371m in the first six months of 2002. Pre-tax profits amounted to $317m compared to $900m in the corresponding period last year. Profit tax was $108m in the period from January to June 2002 compared to $240m in the first half of 2001.
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969