LukOil Romania reports 38% decline in revenues

Oil company LukOil Romania, subsidiary of Russai-based LukOil, posted $1.31 billion revenues 38% below year-ago levels, and $50 million, according to the chief executive of the company, Constantin Tampiza.“Revenues and EBITDA (earnings before interests, taxes, depreciation and amortization) fell 38% in 2009 from a year earlier due to crude oil price drop. EBITDA’s drop of $25 million reflects currency exchange movements”, said Tampiza, as quoted by NewsIn.In 2008, LukOil Romania ...

Developed by Codecraftsman