The profits of Russia's second biggest oil company Lukoil for the first quarter of 2016 fell by 58.8 percent compared to the same period of 2015, the company announced on Monday.
Lukoil said that its first quarter's profits fell to 43 billion roubles ($651.3 mln) from 104 billion roubles in the first quarter of 2015 due to falling oil prices.
The Russian company's sales also declined to 1.17 trillion roubles in the first quarter of this year compared to 1.44 trillion roubles in the same period last year.
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By Murat Temizer
Anadolu Agency
murat.temizer@aa.com.tr
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