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According to Anadolu News on May 28, Russia’s Lukoil Company’s financial performance report released on Wednesday showed that the company’s profit for the first quarter of 2021 was 157.
The company announced a 2020 full-year profit of US$206 billion, a 98% decrease from the US$8.
The company said: “During the epidemic, global economic activity weakened, and the subsequent unprecedented plunge in oil and gas demand and prices has had a significant negative impact on the group’s operations and financial performance in 2020, and continued to have a negative impact in the first quarter of 2021.
The company added that due to the OPEC+ agreement and the impact of the epidemic, its crude oil production in Russian oil fields and some international projects has decreased, which has affected the company's operating results.
Lukoil's sales in the same period were US$25.
Compared with the first quarter of 2020, the company's sales increased by 12.
The company added that this growth was constrained by the decline in oil and gas production, refinery throughput and transaction volumes.
Zhu Jiani excerpted from Anadolu News
The original text is as follows:
Russian Lukoil records nearly $2.
Russian oil company Lukoil reported a profit of 157.
The company had posted full-year 2020 earnings of $206 billion, down 98% compared to $8.
"Weaker global economic activity amid the pandemic followed by an unprecedented slump in hydrocarbon demand and prices had a significant negative impact on the operational and financial performance of the Group in 2020 with persisting negative effects in the first quarter of 2021," the company said.
It added that crude oil production cuts at its fields in Russia and in some international projects due to the OPEC+ agreement and the consequences of the pandemic affected the company's operating results.
Lukoil's sales over the same period amounted to $25.
Compared to the first quarter of 2020, the company's sales increased by 12.
The growth was constrained by lower hydrocarbon production, refinery throughput and trading volumes, it added.
