Lukoil's Net Profit Doubled

Net profit of the second-largest oil producers LUKoil Russia was more than doubled in the first quarter of 2010 to $ 2.05 billion compared with $ 905 million in the first quarter of last year.

Analysts polled by Reuters had expected on average, that Lukoil's net profit will be $ 1.84 billion.

Lukoil revenues, calculated by the standards of US GAAP, increased to $ 23.9 billion from $ 14.75 billion in the forecast $ 24.11 billion.

EBITDA for the company increased to $ 3.73 billion from $ 2.41 billion. Analysts expected EBITDA Lukoil at $ 3.41 billion.