OREANDA-NEWS. November 16, 2009. Veles Capital released daily market review:

LUKOIL might lower its forecast of oil extraction in the updated development strategy. November 29 at the board of directors of LUKOIL a new updated development strategy will be introduced, it provides for the volume of hydrocarbons extraction by 2019 might form about 140 mn tons of oil equivalent, the extraction volume of oil will form about 100 mn tons, processing volume – more than 70 mn tons. Total investments within 2010 to 2019 are evaluated in the volume of more than 80 bn USD.

MTS: good quarter, bad debt. Sales of MTS in 3Q 2009 by US GAAP formed 2.3 bn USD versus 2.8 bn USD within the similar period a year before. OIBDA lowered from 1.5 bn USD to 1.1 bn USD. The net profit remained at the level of 0.5 bn USD.

NOVATEK provided a report by IAS within 9 months of 2009. Net profit of NOVATEK by IAS within 3Q 2009 grew by 29.4% versus the similar period of 2008 to 7.35 bn RUR, imparts the report of the company. At the same time in dollar terms by the given estimates NOVATEK remained at the previous year level, which was due to devaluation of ruble year to year by 29.3%.

Surgutneftegas lowered its operating profit by 24.2%, but upped the financial cushion by 3.1%. Surgutneftegas provided its financial report for 9 months of 2009. As follows from the report the sales of the company within the reported period reduced by 22.5% versus the similar period of the previous year and formed 368.6 bn RUR, In dollar terms the loss turned out to be higher – minus 42.8%, the sales formed 11.3 bn USD. As it has been announced earlier, the net profit of the company lowered by 44.5% in dollar terms within 9 months of 2009 and formed 2.77 bn USD.