OREANDA-NEWS. LUKOIL has published consolidated US GAAP financial statements for 2014.

The Company’s 2014 net income reached USD 4,746 million. EBITDA (earnings before interest, taxation, depreciation and amortization) reached USD 15,982 million in 2014. Sales revenues were USD 144,167 million (+1.9% y-o-y). The changes in ruble-nominated revenues were significantly affected by the ruble devaluation.

Net income in 2014 was negatively affected by USD 2,341 million non-cash losses due to asset impairment in Russia, Ukraine, Western Africa and Kazakhstan. Excluding the non-cash losses net income was USD 7,087 mln and EBITDA was USD 18,426 mln.

Free cash flow in 2014 amounted to USD 925 million. Capital expenditures were USD 15,391 million in 2014.    

Hydrocarbon lifting costs in Russia decreased by 23% in the fourth quarter of 2014 and reached USD 4.30 per boe. In 2014, hydrocarbon lifting costs amounted to USD 5.74 per boe.

In 2014, LUKOIL Group total hydrocarbon production available for sale increased by 5.1% y-o-y and reached 2,314 thousand boe per day. Crude oil production of LUKOIL Group in 2014 increased 7.0% to 97.208 million tonnes.

Throughput at the Company’s own and affiliated refineries increased by 0.3% to 66.6 million tonnes. Throughput the Company’s refineries in Russia increased 0.1%.