According to the company, its revenues fell by 9% to 5.23 trillion rubles ($87.1 billion) while net income slumped 29% to 207 billion rubles last year.
Lukoil said the main factor triggering the decline was the improving exchange rate between the Russian ruble and the US dollar. Stripping out the exchange rate effect, net income actually rose to 296 billion rubles, the company said.
Lukoil
