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. Last Updated: 07/27/2016

LUKoil’s Income Falls 23%

LUKoil’s net income fell 23 percent last year to $7 billion, chief executive Vagit Alekperov said Monday.

This year “will definitely be a better year,” Alekperov said. “Net profit in 2009, a time of crisis, a year of crisis, was around $7 billion. That’s satisfactory. It allows us to invest in the unique projects we started last year.”