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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pjsc Lukoil | LSE:LKOH | London | Ordinary Share | RU0009024277 | ORD RUB0.025 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 56.2184 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLKOD
RNS Number : 4800W
PJSC LukOil
14 November 2017
LUKOIL REPORTS PRELIMINARY OPERATING DATA FOR THE THIRD QUARTER AND NINE MONTHS OF 2017
The LUKOIL Group's hydrocarbon production excluding West Qurna-2 project for the first nine months of 2017 increased by 2.3% as compared to the same period of 2016 to 2,218 thousand boe per day. The increase was driven by gas projects development. In the third quarter of 2017 production was 2,219 thousand boe per day, almost unchanged quarter-on-quarter.
Hydrocarbon production, thousand boe per day
3Q 2017 2Q 2017 9M 2017 9M 2016 -------- -------- ---------------------------- -------- -------- Total (excluding West-Qurna 2,219 2,222 2 project) 2,218 2,168 -------- -------- ---------------------------- -------- --------
Starting January 2017 LUKOIL Group's oil production volume and dynamics are mainly defined by the external limitations of Russian companies' production volumes. For the first nine months of 2017 production excluding West Qurna-2 project was 64.1 million tons, including 21.4 million tons produced in the third quarter of 2017.
In the third quarter of 2017 production growth continued as planned at V. Filanovsky and Pyakyakhinskoe fields and amounted to 4.5% and 2.4% quarter-on-quarter respectively. The active development of high viscosity oil projects in Timan-Pechora continued. As such, production at Yaregskoe field increased by 30% as compared to the second quarter of 2017.
Oil production, thousand tons
3Q 2017 2Q 2017 9M 2017 9M 2016 -------- -------- ----------------------------------- -------- -------- Total (excluding West-Qurna 21,411 21,306 2 project) 64,114 64,824 20,538 20,374 Russia 61,354 62,031 20,337 20,120 Subsidiaries 60,635 61,317 201 254 Share in affiliates 719 714 873 932 Outside of Russia 2,760 2,793 464 496 Subsidiaries 1,477 1,533 409 436 Share in affiliates 1,283 1,260 Compensation oil from West 540 482 Qurna-2 project 1,427 4,477 21,951 21,788 Total 65,541 69,301 -------- -------- ----------------------------------- -------- --------
The LUKOIL Group's gas production increased by 4.4% quarter-on-quarter in the third quarter of 2017 to 7.3 billion cubic meters. As a result, for the first nine months of 2017 production increased by 12.4% year-on-year to 20.7 billion cubic meters. Gas production was positively impacted by the launch of gas facilities at Pyakyakhinskoe field in January 2017 and main production facilities at Gissar project in Uzbekistan in the third quarter of 2017. Quarter-on-quarter production at Gissar project more than doubled.
Gas production, million cubic meters
3Q 2017 2Q 2017 9M 2017 9M 2016 -------- -------- ----------------------------------- -------- -------- 7,257 6,952 Total 20,668 18,383 4,619 4,646 Russia 13,595 12,176 4,596 4,621 Subsidiaries 13,524 12,113 23 25 Share in affiliates 71 63 2,638 2,306 Outside of Russia 7,073 6,207 2,445 2,103 Subsidiaries 6,472 5,646 193 203 Share in affiliates 601 561 -------- -------- ----------------------------------- -------- --------
Refinery throughput at the LUKOIL Group's refineries in the third quarter of 2017 increased by 5.9% quarter-on-quarter and amounted to 17.4 million tons. Growth of refinery throughput in Russia was mainly due to maintenance works at Perm refinery in the second quarter of 2017. An increase in the utilization rate of European refineries was attributable to the completion of the maintenance works at Petrotel and ISAB refineries, as well as favorable market environment.
Refinery throughput for the first nine months of 2017 increased by 1.2% year-on-year to 49.9 million tons. Refinery throughput in Russia increased by 3.0% year-on-year, which was mainly due to maintenance works at our Nizhny Novgorod and Volgograd refineries in 2016. Refinery throughput in Europe decreased by 1.8% year-on-year mainly due to the maintenance works at Petrotel and ISAB refineries in the first half of 2017.
Refinery throughput at refineries, thousand tons
3Q 2017 2Q 2017 9M 2017 9M 2016 -------- -------- ------------------------------------------- -------- -------- Total for LUKOIL Group 17,356 16,394 refineries 49,946 49,339 11,010 10,447 Russia 31,963 31,029 6,346 5,947 Outside of Russia 17,983 18,310 5,823 5,359 Oil processing 16,301 14,900 523 588 Refined products processing 1,682 3,410 Third party refineries 1,670 1,678 abroad 4,744 245 -------- -------- ------------------------------------------- -------- --------
Note:
LUKOIL will release its Interim Consolidated Financial Statements prepared in accordance with IFRS and related MD&A for the third quarter and nine months of 2017 on November 29, 2017.
The information in this press release is an estimate of the LUKOIL Group's results in third quarter and nine months of 2017 and therefore constitutes forward-looking statements. This information is preliminary and based on information available at the date of this document, and may be revised after statistical, financial, tax and accounting statements become available. The information on the LUKOIL Group's operational results in this press release are subject to many external factors which may cause the actual results to differ materially from those expressed or forecasted in this press release for the third quarter and nine months of 2017. The LUKOIL Group assumes no obligation to update or alter its forward-looking statements, whether as a result of new information, subsequent events or otherwise, except to the extent required by applicable law.
This document does not constitute or form part of an invitation or inducement to engage in investment activity with, or any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of, the LUKOIL Group, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of, or any investment in, the LUKOIL Group.
Information about the Company:
PJSC "LUKOIL" is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, the Company currently operates in more than 30 countries with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution. The Company's shares are listed in Russia on Moscow Exchange under the ticker "LKOH" and depositary receipts are listed on the London Stock Exchange under the ticker "LKOD".
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
November 14, 2017 08:45 ET (13:45 GMT)
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