LUKOIL Financial
| Main financial indicators |
2008 |
2009 |
| Sales, USD billion |
108 |
81 |
| Operating income, USD billion |
14 |
10 |
| EBITDA, USD billion |
16 |
13 |
| Main operating indicators | ||
| Oil reserves, billion barrels |
14 |
13 |
| Gas reserves, billion cubic feet |
29 253 |
22 564 |
| Hydrocarbon reserves, billion BOE |
19 |
18 |
| Crude oil production, million barrels |
703 |
721 |
| Production of marketable hydrocarbons, million BOE per day |
2 |
2 |
| Throughputs at own refineries, million tonnes |
56 |
61 |
| Crude oil exports, million tonnes |
39 |
42 |
| Petroleum product exports, million tonnes |
26 |
28 |
| Crude oil sales, million tonnes |
40 |
50 |
| Wholesale sales of petroleum products, million tonnes |
81 |
87 |
| Number of filling stations (owned, leased and franchises) |
6 939 |
6 200 |
| Employees |
150 200 |
143 402 |
The reserves were estimated by Miller and Lents, in accordance with the US Securities and Exchange Commission (SEC) standards. The Company resolved to undergo reserves evaluation according to the SEC standards to provide better transparency and compatibility of its reserves data compared with that of its competitors.
Under the SEC rules, there has to be an approved development plan as a requirement to book undeveloped reserves as proved. This plan must set the start of field operations within a five-year period, if there are no other factors that would explain a later commissioning.
Considering the changes introduced into development plans and their commissioning dates, the Company transferred 1.8 billion barrels of oil equivalent from the category of proved reserves into lower reserve categories and into resources. The Company expects that these volumes will be returned into the proved reserves category as their development start date draws nearer or some new technologies are applied.The evaluation was performed with consideration of the changes in the field development plans approved by the Company’s Board of Directors on November 19, 2009 as part of the Company’s Strategic Development Program for 2010-2019.
In terms of proved hydrocarbon reserves volume LUKOIL retains its leading positions among the Russian and international companies.