Lukoil has reported a strong first half of 2024 with increased profits despite production cuts, refinery disruptions from drone attacks, and technical issues.
Lukoil booked a net profit of $6.4 billion 590.2 billion Russia n rubles for the first half of 2024, up by 4.6% from a year earlier, on the back of higher sales volumes, the second-largest Russia n oil producer said on Thursday. Lukoil ’s net profit figure beat an average analyst estimate in a poll by the Russia n news agency Interfax. Revenues from sales surged by 20% to $47.3 billion 4.333 trillion rubles amid higher prices and increased sales.
which has the capacity to process some 340,000 barrels per day bpd of crude, is one of Russia’s biggest refineries. In March, the same refinery in western Russia caught fire following attacks by drones from Ukraine on Russian refinery and fuel facilities. Since all major Russian refineries use at least some part of Western technology, they could struggle to repair equipment and units that broke down or have been damaged by Ukrainian drone attacks.
Russia Oil Production Profit Sales OPEC+ Ukraine War Drone Attacks Refinery Disruptions Technical Issues
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