The net profit of Russia's second biggest oil producing company Lukoil decreased by approx. 12.5 percent in the third quarter of 2016, compared to the same period last year, the company announced on Tuesday.
Lukoil's net profit in the third quarter was 54.8 billion rubles ($842 million), in comparison to around 62 billion rubles ($1.25 billion) in the third quarter of 2015.
The company said that in the third quarter of 2016, its sales decreased by 2.2 percent compared to the second quarter of 2016 resulting primarily from lower international trading volumes.
"Our nine month 2016 financial results were impacted by lower average international hydrocarbon prices, and an increase in mineral oil extraction tax base rate," the company noted.
(Anadolu Agency)
