LUKOIL net income excluding non-cash write-off reached $10.3 billion in 2013

Sales revenues were $141,452 million (+1.6% y-o-y). The positive dynamics of revenues was due to a y-o-y increase in hydrocarbon, petrochemicals and premium petroleum products production in 2013.

Net income for the fourth quarter of 2013 was negatively affected by $2,449 million non-cash losses due to write-off of Yuzhnoye Khylchuyu field, West Africa projects, Karpatneftekhim and ISAB plants, LUKOIL-Ecoenergo and other assets. Excluding the non-cash losses net income was $10,281 mln and EBITDA was $19,255 mln (+1,8% y-o-y).

Free cash flow in 2013 amounted to $643 million. Capital expenditures was $15,434 million in 2013.    

In 2013, LUKOIL Group total hydrocarbon production available for sale increased by 1.5% y-o-y and reached 2,202 thousand boe per day.

Crude oil production of LUKOIL Group in 2013 increased 1.1% to 90.807 million tonnes. Production of gas available for sale increased by 2.3% to 20.391 bcm including 6.428 bcm produced internationally and 13.963 bcm in Russia.

Throughput at the Company’s own and affiliated refineries increased by 0.4% to 66.3 million tonnes. Throughput the Company’s refineries in Russia increased 1.8%.