Lukoil posts 1H 2010 net profit of $4 billion
Published: 31 August, 2010, 11:49
Edited: 01 September, 2010, 12:28
Russian oil producer Lukoil has posted a 1H 2010 net profit of $4 billion under US GAAP.
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Megafon, the Russian mobile phone giant, has posted a 2Q 2010 Net Income of 12.2 billion roubles under US GAAP.
Black Earth Farming, a Russian agricultural producer listed in Sweden, has posted a 1H 2010 Net Loss of $7.3 million under IFRS.
Sibirtelecom, the fixed line provider in Russia’s Siberia, has posted a 1H 2010 Net Profit of 2.4 billion roubles under IFRS.
Major pipe producer, TMK, has posted a full year 2009 net loss of $323.74 million under IFRS.
10.09.2009, 17:50
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“We have no time at all left to modernize the economy, to invest heavily in high-tech and to move slowly from our dependence on oil and gas,” Viktor Linnik of the Slovo newspaper commented on Medvedev’s appeal.
Oil services provider, Integra, has posted a FY 2009 net loss of $118.9 million under IFRS.
Russian British oil major, TNK-BP, has posted a 1Q 2009 Net Income of $747 million under U.S. GAAP.
Major Russian gas and oil pipe producer, TMK, has posted a 1H 2010 net profit of $67.3 million under IFRS.
Russia's most active oil and gas fields are shifting further to the north and closer to Russia's eastern coast, a development which is driving demand for new oil and LNG tankers.
28.05.2010, 12:36
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Belarusian President Aleksandr Lukashenko says his country is willing to give Russia full control over Belarusian pipelines in exchange for cheap gas and oil.
Published: 31 August, 2010, 11:49
Edited: 01 September, 2010, 12:28
Russian oil producer Lukoil has posted a 1H 2010 net profit of $4 billion under US GAAP.
Hydrocarbons and other natural resources are our core business and we must not forget about them. We must cast our eyes very heavily over them in terms of governance, including their operation and financial positions. We have to make sure that they are absolutely sound businesses and not take our eyes off them, or be distracted by the promises of diversification, technology.... these are all possibilities, wheras our natural resource buiness is a reality with phenominal strategic value. We can live with further diversification failures based on it, but we will collapse immediately without it, until the possibilities become realities in other economic areas. So EBITDA data, well that's all well and good, but what about absolute net profit after the taxes..., is that up? I am not saying it should be, as we need tax revenues, or that anything is wrong with the operation, current planning, finances, future palnning.... But what I am saying, is that this is a critical, strategic sector for Russia, so some of our brightest minds and thinkers should be watching over it, to make sure it is all kept on a sound business and financial footing. We get one chance with the revenues from hydrocarbons, so we need be sure we make the best we can of it. remembering that others outside, are continually manoevering to weaken our natural birthright, trying to deny us the finacial springboard to a brighter Russia. It is the role of our government, to make sure these external influences fail, and also that we do not fail ourselves through distraction or otherwise taking our eye off the ball. Focus on the plates we have spinning, whilst we start other ones up, otherwise everything could come crashing down!