Lukoil 2013 Net Profit Drops 29%

Russia's OAO Lukoil Holdings LUKOY reported a 29% drop in its 2013 net profit. Lukoil's profit for the year fell to $7.8 billion, while sales gained 1.6% to $141.5 billion. Its earnings before interest, taxes, depreciation and amortization slipped 12% to $16.7 billion. Lukoil's daily hydrocarbon production for the year rose 1.2% y/y to 2.2 million barrels of oil equivalent. Lukoil shares closed at $57.63 yesterday.