Lukoil Second-Quarter Net Profit 8.4% Higher

Lukoil said its second quarter net profit rose to $2.517 billion, up 8.4% from $2.321 billion, thanks to higher oil prices and increased production.

Analysts polled by Interfax expected Lukoil's second quarter net profit to reach $2.41 billion.

Russia's second-largest crude producer added that EBITDA rose to $3.917 billion from $3.658 billion, but fell short of analysts' expectations, which called for a quarterly EBITDA of $3.957 billion.

Sales in the quarter rose to $20.129 billion from $18.267 billion, beating the $18.892 billion consensus.