OREANDA-NEWS. November 20, 2009. Veles Capital released daily market review:

Severstal gained 66 mn USD of net profit by IAS in 3Q 2009 versus loss in the second quarter. Severstal closed the 3Q 2009 with net profit by IAS, which formed 66 mn USD, versus loss a quarter earlier. EBITDA of the company formed 368 mn USD versus the negative estimate of 5 mn USD in 2Q 2009. Sales in the 3Q 2009 upped versus the previous quarter by 22.3% and totaled 3.487 bn USD.

Board of directors of LUKOIL approved the development strategy for the next 10 years. Within the frames of the updated development strategy for the coming 10 years (2010-2019), approved by the board of directors of the company, LUKOIL redirected the development strategy from growth of extraction to growth of free cash flow, imparts the press-release of the company.