MOSCOW: Russia’s No.2 oil producer Lukoil <LKOH.MM> made a higher than expected fourth-quarter net profit of 46.6 billion roubles ($790 million) due to rising oil prices after making a loss during the same period a year earlier, the company said on Tuesday. According to a Reuters poll of analysts, Lukoil was expected to have earned 45 billion roubles in October-December 2016, after making a loss of 65 billion roubles a year earlier.
The company said fourth-quarter revenues edged up to 1.40 trillion roubles from 1.37 trillion roubles, while earnings before interest, taxes, depreciation and amortization (EBITDA) slightly declined to 183.3 billion roubles from 186.3 billion roubles in the same period in 2015.
