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2015-03-03 20:45:00

LUKOIL EBITDA 2014: $15.982 BLN

LUKOIL EBITDA 2014: $15.982 BLN

 

 
 
 

LUKOIL has published consolidated US GAAP financial statements for 2014.

The Company’s 2014 net income reached $4,746 million. EBITDA (earnings before interest, taxation, depreciation and amortization) reached $15,982 million in 2014. Sales revenues were $144,167 million (+1.9% y-o-y). The changes in ruble-nominated revenues were significantly affected by the ruble devaluation.

Net income in 2014 was negatively affected by $2,341 million non-cash losses due to asset impairment in Russia, Ukraine, Western Africa and Kazakhstan. Excluding the non-cash losses net income was $7,087 mln and EBITDA was $18,426 mln.

Free cash flow in 2014 amounted to $925 million. Capital expenditures were $15,391 million in 2014.    

Hydrocarbon lifting costs in Russia decreased by 23% in the fourth quarter of 2014 and reached $4.30 per boe. In 2014, hydrocarbon lifting costs amounted to $5.74 per boe.

In 2014, LUKOIL Group total hydrocarbon production available for sale increased by 5.1% y-o-y and reached 2,314 thousand boe per day. Crude oil production of LUKOIL Group in 2014 increased 7.0% to 97.208 million tonnes.

Throughput at the Company’s own and affiliated refineries increased by 0.3% to 66.6 million tonnes. Throughput the Company’s refineries in Russia increased 0.1%.

Consolidated Statements of Income

 

2014

2013

2012

 

(millions of US dollars)

Revenues

 

 

 

 

Sales (including excise and export tariffs)..................................

144,167

141,452

139,171

 

 

 

 

Costs and other deductions

 

 

 

Operating expenses...............................................................

(10,115)

(10,086)

(9,359)

Cost of purchased crude oil, gas and products.....................................................................................................................

(71,245)

(65,924)

(64,148)

Transportation expenses........................................................

(5,894)

(6,290)

(6,171)

Selling, general and administrative expenses..............................

(3,858)

(3,849)

(3,755)

Depreciation, depletion and amortization...................................

(8,816)

(5,756)

(4,832)

Taxes other than income taxes...............................................

(12,892)

(13,803)

(13,666)

Excise and export tariffs.........................................................

(21,364)

(22,334)

(22,836)

Exploration expense...............................................................

(1,104)

(602)

(364)

(Loss) gain on disposals and impairments of assets......................

(1,753)

(2,561)

30

Income from operating activities........................................

7,126

10,247

14 070

 

 

 

 

Interest expense...................................................................

(637)

(488)

(538)

Interest and dividend income..................................................

275

239

257

Equity share in income of affiliates............................................

552

575

518

Currency translation loss.........................................................

(355)

(443)

(512)

Other non-operating expense (income)....................................

(189)

328

(72)

Income before income taxes...............................................

6,772

10,458

13,723

 

 

 

 

Current income taxes.............................................................

(2,876)

(2,051)

(2,738)

Deferred income taxes...........................................................

818

(780)

(60)

Total income tax expense...................................................

(2,058)

(2,831)

(2,798)

 

 

 

 

Net income.........................................................................

4,714

7,627

10,925

 

 

 

 

Net loss attributable to non-controlling interests.........................

32

205

79

 

 

 

 

Net income attributable to OAO LUKOIL.............................

4,746

7,832

11,004

 

 

 

 

Earning per share of common stock attributable to OAO LUKOIL

(in US dollars):

 

 

 

Basic..............................................................................

6.29

10.38

14.47

Diluted...........................................................................

6.20

10.18

14.17

 

lukoil.com

Tags: LUKOIL, RUSSIA, OIL,

Chronicle:

LUKOIL EBITDA 2014: $15.982 BLN
2018, January, 19, 12:15:00

S.KOREA'S DIVERSIFICATION

PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.

LUKOIL EBITDA 2014: $15.982 BLN
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ADNOC'S 2030 STRATEGY

AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.

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2018, January, 19, 12:05:00

TOSHIBA SELLS WESTINGHOUSE

WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.

LUKOIL EBITDA 2014: $15.982 BLN
2018, January, 17, 23:50:00

OIL PRICES: NOT ABOVE $70 YET

REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.

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