Russia’s Lukoil Reports Q4 Decline In Profits

By Tsvetana Paraskova Lukoil, Russia’s second-biggest oil producer, reported on Tuesday a profit of $792 million (46.6 billion rubles) for the fourth quarter—slightly higher than analyst expectations, but 15 percent lower compared to the third quarter. A Reuters poll of analysts had expected Lukoil to book $765 million (45 billion rubles) for the last quarter of 2016, compared to a loss of $1.1 billion (65 billion rubles) reported for Q4 2015. The fourth-quarter profit decline compared to the third quarter was the result of volatility in the exchange rates,…

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