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Press Release

LUKOIL CRUDE OIL PRODUCTION INCREASED BY 3.2% IN THE FIRST QUARTER OF 2009, REFINERY THROUGHPUTS – BY 7.3%

LUKOIL Group total hydrocarbon production available for sale reached 2,225 th. boe per day in the first quarter of 2009, which is a 1.5% increase y-o-y. Crude oil production by LUKOIL Group increased by 3.2% y-o-y to 1,976 th. barrels per day.

Crude oil production of LUKOIL Group in the first quarter of 2009 totalled 24.13 mln tons. At the same time, crude oil output from the Yuzhnaya Khylchuya field reached 1.5 mln tons. Natural and petroleum gas output of LUKOIL Group available for sale was 3.81 bcm: output as part of international projects totalled 1.22 bcm (grew by 34.2% y-o-y), output in Russia was down 23.4% y-o-y to 2.59 bcm. The decrease in gas output available for sale in Russia was due to the decrease in purchases of gas by Gazprom.

Throughputs at the Company’s refineries (including its share in throughput at ISAB refining complex) increased by 7.3% y-o-y in the first quarter of 2009 and reached 14.28 mln tons. Throughputs at the Company’s refineries in Russia decreased by 1.5% y-o-y, throughputs at the Company’s international refineries grew by 50.6% y-o-y.

Hydrocarbon production available for sale, th. boe per day
 1Q 20091Q 2008Growth
Hydrocarbon production, th. boe per day2,2252,193+1.5%
 Crude oil output, th. bpd*1,9761,915+3.2%
Natural and petroleum gas output available for sale, th. boe per day**249278-10.4%
Crude oil output, th. tons
 1Q 20091Q 2008Growth
LUKOIL Group output:24,12723,622+2.1%
Including   
Subsidiary companies23,52023,028+2.1%
Share in affiliated companies607594+2.2%
    
 Russia:22,73122,269+2.1%
Including   
Subsidiary companies22,65622,196+2.1%
Share in affiliated companies7573+2.7%
    
 International projects:1,3961,353+3.2%
Including   
Subsidiary companies864832+3.8%
Share in affiliated companies532521+2.1%
    
LUKOIL Group output,th. bpd*1,9761,915+3.2%
     *   Conversion ratio from tons to barrels characterizes the density of oil from each of LUKOIL oilfields.
   **   Conversion ratio from cubic meters to barrels of oil equivalents is 1,000 cubic meters = 5.885 boe.
 
Gas output available for sale, mcm
 
 1Q 20091Q 2008Growth
LUKOIL Group output:3,8104,290-11.2%
Including   
Subsidiary companies3,7334,224-11.6%
Share in affiliated companies7766+16.7%
    
 Russia:2,5903,381-23.4%
Including   
Subsidiary companies2,5813,373-23.5%
Share in affiliated companies98+12.5%
    
 International projects:1,22090934.2%
Including   
Subsidiary companies1,152851+35.4%
Share in affiliated companies6858+17.2%
    
LUKOIL Group output,th. boe per day*249278-10.4%
 
*   Conversion ratio from cubic meters to barrels of oil equivalents is 1,000 cubic meters = 5.885 boe.
 
Refinery throughputs, th. tons
 1Q 20091Q 2008Growth
 Owned refineries**14,28513,318+7.3%
   Russia10,92911,090-1.5%
   International3,3562,228+50.6%
 Third-party refineries1,0861,346-19.3%
 
** Including mini-refineries and the Company’s share in ISAB refining complex.

The information is based on preliminary operating data, which may be adjusted and corrected during preparation of LUKOIL financial accounts for the first quarter of 2009. So the figures in this press-release may differ from operating statistics, which will be published together with the financial accounts.

  • Press release in PDF

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