Sales revenues increased to $139,171 million, up 4.1% year on year. There was a sharp rise in oil product sales through Russian exports and foreign subsidiaries.

Revenue from these streams increased to $86,604 million, up around 13.5% from $76,335 million the year before. But crude oil sales through exports or foreign subsidiaries fell to $26,036 million, down almost a quarter from $32,522 million a year earlier.

The group’s commercial hydrocarbon production amounted to 2,170,000 barrels of oil equivalent a day last year, up 0.2% year on year. Lukoil has 0.8% of global oil reserves, and 2.2% of global oil production.