The first was a Financial Times story in which company president Vagit Alekperov said there would be an almost one-year delay releasing Lukoil's consolidated financial results audited under US GAAP standards. These results of Lukoil's operations for the past three years are long outstanding despite numerous calls from investors for disclosure. The story was refuted by Lukoil, which called it a misquote, and said the GAAP report for the years of 1996 to 1998 is to be issued by year-end.