By James Marson

MOSCOW--OAO Lukoil (LKOH.MZ), Russia's second-largest oil producer, said its net income fell 58% to $1 billion in the second quarter compared with the same period last year due to a significant fall in the price of crude.

Lukoil said revenue dropped 26% to $28.1 billion, while earnings before interest, taxes, depreciation and amortization, or Ebitda, slid 35% to $3.6 billion.

The company, which has long battled production declines at its main fields in western Siberia, posted a 2.8% increase in daily hydrocarbon output to 2.38 million barrels of oil equivalent. The increase was mainly due to the ramping up of production of Lukoil's West Qurna-2 project in Iraq. Production in Russia also inched up as the Trebs and Titov oilfields, where Lukoil holds a 25.1% stake, came online.

Lukoil's shares were up 1% in Moscow shortly after the results were published in a broadly flat market.

Write to James Marson at james.marson@wsj.com

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(END) Dow Jones Newswires

August 28, 2015 06:41 ET (10:41 GMT)