Lukoil posts 3Q 2010 net income of $2.818 billion

Russian oil producer, Lukoil, has posted a 3Q 2010 net income of $2.818 billion under US GAAP

The 3Q bottom line is up 37.1% year on year, with 3Q EBITDA rising 22.9% year on year to $4.552 billion, on the back of a 20.9% year on year rise in 3Q sales to $26.517 billion.The 3Q results made for a 9M net income of $6.82 billion, up 29% year on year, with 9M EBITDA rising 17.1% year on year to $11.985 billion, on the back of a 34.3% rise in 9M revenues to $76.272 billion.Lukoil noted that rouble appreciation had led to a 19.2% year on year rise in lifting costs per barrel of oil equivalent, with production rising 1.6% year on year to 2,249 thousand boe per day.