Lukoil’s Q3 profit drops 20 pct to $2.2 billion (AP)
25th November 2011 · 0 Comments
MOSCOW – Russia’s second-largest oil producer Lukoil said Friday that its third-quarter profit dropped 20 percent because of higher taxes and a slump in the ruble. The Moscow-based company said Friday that the $570 million decline to $2.2 billion had been caused by the depreciation of the Russian ruble. This includes $340 million it spent on tax on foreign currency translation gain.
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Lukoil’s Q3 profit drops 20 pct to $2.2 billion
(AP)
Tags: a-cash-flow, Depreciation, dollar-between, down-the-costs, investment-bank, Lukoil, moscow-based, percent-at-the, product-markets, russia, september, taxes
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