OREANDA-NEWS. LUKOIL published its 2006 consolidated US GAAP financial accounts.

Operating expenses rose by $1,170 million y-o-y. Main contributors to this growth were real appreciation of the rouble against the dollar (which was 19.3% for the 12-months period ended December 31, 2006) and increase in hydrocarbon output and refinery throughputs.

Average hydrocarbon lifting costs rose from $2.66 in 2005 to $3.08 per boe in 2006, or by 15.8% y-o-y. Adjusted for strengthening of the rouble against the dollar in real terms, average lifting costs remained nearly at the same level as in 2005.

Capital expenditures including non-cash transactions were $6,886 million, which is an increase of 64.9% y-o-y. Upstream CAPEX rose by 75.5% while downstream CAPEX increased by 30.6%.