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Wednesday, February 20, 2008

LUKoil reports 11% rise in overseas hydrocarbon output in 2007

MOSCOW, February 4 (RIA Novosti) - LUKoil Overseas, which handles foreign projects of Russia's leading independent crude producer LUKoil, said on Monday its oil and condensate output increased 10.8% year-on-year in 2007 to 5.17 million metric tons. LUKoil Overseas said its oil and condensate production in the reporting period accounted for 5.3% of LUKoil's crude output, while gas production contributed 15.4%. LUKoil Overseas also said last year's EBITDA (earnings before interest, taxes, depreciation and amortization) exceeded $1 billion for the first time.

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