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Net profit of Lukoil jumped with 24% for the half year to 4 billion USD

The net profit of Russian oil company Lukoil jumped by almost 24% for the period January-June 2010 yoy to $ 4 billion, according to U.S. accounting standard. This shows basic data published by the consolidated revenue and expenditure of Lukoil. Only second-quarter profit of Lukoil 1,95 billion dollars. Lukoil revenues for August amounted to 49.76 billion dollars, an increase of 42% annually. For the first half the company Lukoil has charged taxes 14.8 billion, of which 1.1 billion dollars tax. The average cost of production during the period increased by 23% yoy to $ 4 per barrel of oil equivalent, which is determined mainly by the increase in cost of wages, increased energy costs and increasing the rate of the ruble, says report Lukoil. Capital costs of Lukoil for the reporting period amounted to 3.2 billion dollars, an increase of almost 5% yoy. The cost for geological exploration work for the period have doubled year on year to 146 million dollars. The extraction of oil from Lukoil for the first half is over 48 million tons of processing volumes of oil in their refineries Lukoil for the period grew by over 8% to 32.4 million tons, in particular, the increase of the processed oil LUKOIL refineries in Russia is 1.5%, while those outside the country is 26%.