Source Pravda.Ru

LUKoil posts net profit of $175m in 1Q2002

According to the preliminary data, the net profit of LUKoil Group was around $175 million in the first quarter of 2002, Senior Vice President for Finance Sergey Kukura said today at a press conference. He also pointed out that the company's operating revenues were expected to be around $3 billion in the first quarter of this year, the company's operating profit - some $300 million, and pre-tax profit - around $200 million. Kukura also pointed out that the company's financial performance in the first quarter of this year was a little better as compared to the fourth quarter of 2001, which is not quite distinctive for an oil company.

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