Finance

Russian oil producer Lukoil grows net income despite revenue decline

The company said its upstream operations performed well during the fourth quarter of 2019, however, downstream and retail businesses were hurt by low margins

Downstream loss: Lukoil fuel station in the city of Kogalym in West Siberia, Russia
Downstream loss: Lukoil fuel station in the city of Kogalym in West Siberia, RussiaPhoto: REUTERS/SCANPIX
  • Vladimir Afanasiev
Moscow
LukoilRussiaLeonid FedunOpecEurope
Published 10 March 2020, 17:16Updated 10 March 2020, 17:16