OREANDA-NEWS. LUKOIL today publishes consolidated US GAAP financial accounts for the first half of 2006.

LUKOIL net income for the first half of 2006 was $4,010 million, which is an increase of 54.8% y-o-y. EBITDA was $6,464 million, which is 50.4% higher y-o-y. Revenue from sales rose by 38.1% to $33,210 million.

The increase in net income was due to favourable market conditions, increase of hydrocarbon production and refinery throughputs, cost control, and refining margins growth. Growth of net income was held back by strengthening of the rouble against the dollar and growth of the tax burden.

The Company’s tax expenses totaled $11.3 billion, up 40.2% y-o-y.