By Ian Walker

Lukoil PJSC (LKOH.MZ) on Monday posted a 13% fall in fourth-quarter net profit compared with the previous quarter, on sales that also fell due to lower prices, oil-trading volumes and sales volumes of refined products outside Russia.

The Russian oil-and-gas company made a net profit for the quarter ended Dec. 31 of 159 billion Russian rubles ($2.42 billion) compared with RUB183.8 billion for the third quarter ended Sept. 30. Sales fell to RUB2.04 trillion from RUB2.31 trillion.

Capital expenditure in the fourth quarter amounted to RUB113.3 billion, Lukoil said.

It said that free cash flow rose 33% over the quarter RUB212.2 billion due to lower working capital on the back of the lower prices for crude oil and lower trading volumes.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

March 04, 2019 07:39 ET (12:39 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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