LUKoil posts rise in income from international operations

The net income of LUKoil Overseas Holding Ltd., a subsidiary of the Russian oil giant LUKoil responsible for international exploration and production operations, increased 78.3 percent in 2002 against 2001 to $174.75m, which was 20.3 percent more than planned, the subsidiary's public relations department reported. These results were presented at a meeting of the company's board of directors. Income before taxes increased 93 percent to $331.93m, which was 12.2 percent more than planned, and the sales revenue totaled $1.387bn in 2002, three times more than in 2001.

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