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LUKoil Q1 Net Up 7%

LUKoil reported Monday a 7.7 percent increase in its first-quarter net profit to $3.79 billion, thanks to higher hydrocarbon prices.

LUKoil said first-quarter sales grew 19 percent to $35.26 billion from $29.63 billion in the year-earlier period, and EBITDA increased 0.1 percent to $5.35 billion from $5.34 billion a year ago.

The company also said its first-quarter crude oil and natural gas liquids fell 1.7 percent to 169 million barrels.


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