LUKoil Production up 1.3% in 2008

January 13, 2009
(RIA Novosti) - LUKoil, Russia's largest private crude producer, said Tuesday its hydrocarbon production rose 1.3% year-on-year in 2008 to 114.6 million tons (2.3 million barrels per day), according to preliminary data.

Refining increased 7% to 55.8 million tons, the company said in a statement.

In 2008, the total volume of petroleum product retail sales via the sales network is expected to be finalized at 15 million tons, an 11% increase on the 2007 figure.

The statement said that the LUKoil Group was "Russia's biggest taxpayer" in 2008, with preliminary data showing that the company paid more than 800 billion rubles, or $33 billion, in taxes and customs duties to all levels of the Russian budget system.

LUKoil accounts for about 1.3% of global oil reserves and 2.3% of world crude output. The company has a 18.6% share in Russian oil production and 18.1% in Russian oil refining.

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