Lukoil More Than Doubles Profit

According to consolidated financial statements of LUKoil in accordance with US GAAP standards, in the first nine months of 2003 net profit of the company, including the aggregate effect of changes in the accounting policy and net profit from sale of a stake in Azeri-Chirag-Guneshli joint venture, amounted to $3.065 billion or 225.7% in comparison to the first nine months of 2002. Net profit before the aggregate effect of the changes in the accounting policy amounted to $2.993 billion or was $1.586 billion more than in the same period of 2002. In the first nine months of 2003, revenue of LUKoil amounted to $16.136 million or was 46% bigger than in the same period of 2002.