Press releases

OAO LUKOIL held its Annual General Shareholders Meeting in Moscow today to approve 2006 annual report and financial statements based on the fiscal year results.

LUKOIL net income for the first quarter of 2007 was $1,299 million, which is a decrease of 23.1% y-o-y, but an increase of 24.7% q-o-q. EBITDA was $2,432 million, which is 13.3% lower y-o-y and 14.7% higher q-o-q. Revenue from sales was $15,652 million which is 4.7% higher y-o-y.

Yesterday LUKOIL had a command and staff training on oil spill response in the vicinity of Varandey Oil Export Terminal (‘VOET’).

Today LUKOIL held an international integrated exercise on tanker incident response in vicinity of OAO RPK-Vysotsk LUKOIL-II oil terminal (Leningrad region).

LUKOIL used US$ 1 billion raised on June 07, 2007 from the first Eurobond issue to refinance a significant part of the Syndicated Term Loan Facility worth US$ 1.9 billion obtained in December 2005.