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PRESS-RELEASE
06.06.2016
LUKOIL PUBLISHED IFRS CONSOLIDATED FINANCIAL STATEMENTS FOR 1Q 2016

Today LUKOIL published IFRS consolidated financial statements for 1Q 2016. Revenue was RUB 1,178 bln, EBITDA was RUB 145 bln, Profit for the period was RUB 43 bln. Excluding FX effect, EBITDA and Profit for the period were RUB 191 bln and RUB 79 bln, respectively.

Capital expenditures for 1Q 2016 were RUB 123 bln, free cash flow was RUB 36 bln.

In 1Q 2016, LUKOIL Group total hydrocarbon production (including our share in equity affiliates) increased by 0.5% y-o-y and reached 214.2 mln boe. Crude oil and NGL production was 183 mln bbl (-0.2% y-o-y). On an organic basis (excluding the impact of divestment of certain producing assets in Kazakhstan in 2015), oil production was up by 0.6% y-o-y with production decline at mature fields in Western Siberia more than offset by an increase in production in Iraq and projects in Timan-Pechora, Ural region and Northern Caspian in Russia.

Key Indicators:

Operating

1Q 2016

1Q 2015

?

Hydrocarbon production, mln boe

214

213

0.5%

of which crude oil and NGL, mln bbl

183

183

-0.2%

of which West Qurna-2, mln bbl

18

14

26.3%

Refined products produced, mln t

14.9

14.1

5.6%

       

Financials, RUB bln

     

Sales

1,178

1,440

-18.2%

EBITDA

145

214

-32.1%

EBITDA excluding FX effect

191

209

-8.5%

Profit for the period

43

104

-58.8%

Profit for the period excluding FX effect

79

99

-20.5%

Capital expenditures*

123

154

-20.5%

Free cash flow

36

63

-42.1%

Net debt

589

602

-2.2%

* Including non-cash transactions and prepayments 

Full version of IFRS condensed interim consolidated financial statements of PJSC LUKOIL for the first quarter of 2016 is available on the Company’s web sites: www.lukoil.com and www.lukoil.ru

These condensed interim consolidated financial statements have been prepared by the Company in accordance with IFRS and have not been audited by our independent auditor. If these financial statements are audited in the future, the audit could reveal discrepancies, and we cannot give any assurance that any such discrepancies would not be material.

PRESS-RELEASE
03.06.2016
LUKOIL JOINTLY WITH RUSSIAN CONTRACTOR AND GUBKIN RUSSIAN STATE UNIVERSITY OF OIL AND GAS INTRODUCE UNIQUE PRODUCTION ENHANCEMENT TECHNOLOGY IN PERM REGION  

PJSC LUKOIL has introduced in the Perm region a Russian-designed innovative technology to increase production of hydrocarbons in the Kama river area.

A wireline rod unit was designed jointly by the Company, Gubkin Russian State University of Oil and Gas and Russian manufacturing plant Elkam-Neftemash. A wire of special design used as a string of rods is installed at points where the drift angle increases most heavily, allows for operating wells with small-diameter sidetracks where using standard equipment is difficult and thus provides for oil production increase by up to 30% from each well.

16 such units were introduced in the Perm region in 2014-2015. 5 more wells will be put in operation in 2016 equipped with wireline rod units. In the Perm region only, this unique technology can potentially be used in more than 500 wells.

 

RESS-RELEASE
31.05.2016
LUKOIL COMMISSIONS VGO DEEP CONVERSION COMPLEX

Today, in Volgograd, Oil Deep Conversion Complex has been commissioned as part of vacuum gasoil (VGO) hydrocracking facility at PJSC LUKOIL’s wholly owned oil refinery OOO “LUKOIL-Volgogradneftepererabotka”. The ceremony was attended by the Head of the Government of the Russian Federation Dmitry Medvedev, Deputy Head of the RF Government Arkadiy Dvorkovich, RF Minister of Energy Alexandr Novak, Envoy of the RF President to the Southern Federal District Vladimir Ustinov, Governor of the Volgograd Oblast Andrey Bocharov and President of PJSC “LUKOIL” Vagit Alekperov.

The capacity of Russia’s largest VGO deep conversion complex is 3.5 million tons a year. The complex, which also has hydrogen and elemental sulfur production units and auxiliary facilities, was completed in record breaking time of three years. In total, 2.2 billion US dollars were invested in the project.

The project, which created additional employment for 300 people, will allow an annual increase in output of EURO-5 diesel fuels, motor gasoline components and liquefied gases by 1.8, 0.6 and 0.1 million tons respectively. These products will be marketed in the southern parts of Russia in the first place.

The VGO Deep Conversion Complex, designed by OOO “LUKOIL-Nizhegorodniinefteproyekt”, was constructed by Russian and foreign contractors.

Commissioning of the Complex in Volgograd makes LUKOIL the first Russian company to fulfill its commitments under a quadripartite agreement between oil companies, RF Federal Antimonopoly Service, Federal Service for Environmental, Technological and Nuclear Supervision (Rostechnadzor) and Federal Agency for Technical Regulating and Metrology (Rosstandart).

PRESS-RELEASE
31.05.2016
LUKOIL EMPLOYEES RECEIVE STATE AND CORPORATE AWARDS IN SOUTHERN FEDERAL DISTRICT

Today, following the Decrees of the President of the Russian Federation, RF Prime Minister Dmitry Medvedev has given state awards to LUKOIL Group’s employees of the Southern Federal District in Volgograd. Fifteen people were honored for their significant contribution to the development of Russia’s fuel and energy complex.

Vagit Alekperov, President of PJSC “LUKOIL” has presented corporate awards to 21 employees as recognition of their long service, great performance, distinct achievements, contributions to the development of the Company, professionalism, excellence and tutorship, too. Honorable Employee titles were given to four of them, five employees were awarded with badges of Merit for the Company and twelve people were given honorary titles for their long service.

PRESS-RELEASE
27.05.2016
PRESS SERVICE STATEMENT

PJSC “LUKOIL” Press Service warns all the parties involved of a legal entity, registered, February 19, 2016, as LUKOIL GRUPP Limited Liability Company and abbreviated to OOO “LUKOIL GRUPP” (OGRN 1161215052118, VAT No. 1216025024, legal address: Office 5, 77 Orlova street, Volzhsk, Mari-El 425000). This company, represented by a sole stakeholder Azaliya R. Vagizova, has no relation to LUKOIL Group.

Neither PJSC “LUKOIL”, nor any structure within LUKOIL Group has legal relationship with OOO “LUKOIL GRUPP” and shall be liable for any possible undesirable effect, which might occur as a result of a contact with OOO “LUKOIL GRUPP” and/or any parties acting on its behalf.

PJSC “LUKOIL” Press Service would like to advise, that the Company is undertaking all legal actions, envisaged by the effective legislation of the Russian Federation, to prevent possible negative effect of OOO “LUKOIL GRUPP” actions, discontinue the illegal use of the registered trademark, and is taking other measures to reinstate the Company’s infringed rights and legally protected interests.