Financial Performance - Sales revenue for 3Q21 increased by 17.6% to RUB 2,589 billion compared to 2Q21[15] - EBITDA for 3Q21 increased by 4.5% to RUB 355 billion compared to 2Q21[15] - Free cash flow (FCF) for 3Q21 increased 2.0x to RUB 228 billion compared to 2Q21[15] - Net financial debt was negative RUB 174 billion[15] - Sales revenue for 9M21 increased by 62.3% to RUB 6,667 billion compared to 9M20[15] - EBITDA for 9M21 increased 2.0x to RUB 1,009 billion compared to 9M20[15] - Free cash flow (FCF) for 9M21 increased 2.6x to RUB 503 billion compared to 9M20[15] Operational Highlights (Upstream) - Hydrocarbon production increased from 2.07 mboepd in 2Q21 to 2.13 mboepd in 3Q21[11] - Liquids production increased from 1.61 mboepd in 2Q21 to 1.64 mboepd in 3Q21[11] - Gas production increased from 0.46 mboepd in 2Q21 to 0.49 mboepd in 3Q21[11] - The company is acquiring a 15.5% interest in the Shah Deniz natural gas project for $2.25 billion[69] - Hydrocarbon production in gas projects in Uzbekistan increased from 196 Kboepd in 2Q21 to 250 Kboepd in 3Q21[66] Operational Highlights (Downstream) - Refinery throughput increased from 1.27 mbpd in 2Q21 to 1.38 mbpd in 3Q21[13] - Refinery throughput in Russia and Europe recovered to pre-pandemic levels, reaching 1,378 Kbpd[76, 77] - Light product yield at refineries in Russia increased from 70% in 2Q21 to 72% in 3Q21[77] - Light product yield at refineries in Europe remained stable at 78%[77]
PJSC LUKOIL(LUKOY) - 2021 Q3 - Earnings Call Presentation