Lukoil Quarterly Net Slumps 21% on Output Dip, Ghana Dry Wells
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OAO Lukoil, Russia’s second-largest oil producer, said third-quarter profit fell 21 percent on lower output, higher taxes, dry wells in Ghana and a one-off item the previous year that wasn’t repeated.
Net income dropped to $2.24 billion from $2.82 billion a year earlier, the Moscow-based company said today in a regulatory filing. Sales advanced to $34.6 billion from $26.5 billion.