Lukoil reports 29.0-percent profit gush

Lukoil, the second-biggest Russian oil producer, reported a 29.0-percent rise in net profit in the first nine months of the year to 6.8 billion dollars (5.2 billion euros), on Tuesday.

In the third quarter alone, net profit amounted to 2.8 billion dollars.

For the first half of the year, the company which is in private ownership, raised net profit by 24.0 percent from the equivalent figure in 2009 to 4.0 billion dollars.

In the second quarter, profit amounted to 1.9 billion dollars.

For the first nine months, earnings before interest, tax, depreciation and amortisation was 11.9 billion dollars.

Lukoil said that in the nine months it had produced 72.2 million tonnes of oil.