Russian oil major OAO Lukoil Holdings (LKOH.RS) said Thursday it increased refining volumes between January and September by almost 11%, as it acquired stakes in two European refineries.
Russian oil major OAO Lukoil Holdings (LKOH.RS) said Thursday it increased refining volumes between January and September by almost 11%, as it acquired stakes in two European refineries.

Lukoil, 20%-owned by ConocoPhilips (COP), said throughput of oil and petroleum products at its refineries totaled 46.551 million tons in the nine month period, up 10.9% from 41.983 million tons in the year earlier period.

Lukoil said the increase came on the back of its recent acquisitions in the European refining sector. In November last year, Lukoil took a 49% stake in ERG SpA's Isab refinery in Sicily , Italy .

In June, the company agreed to buy a 45% stake in Dutch refinery Total Raffinaderij Nederland, or TRN.

Hence, throughput at Lukoil's international refineries increased by 49% to 12.970 million tons in the January to September period.

Lukoil , Russia 's biggest independent oil producer, said it produced 2.214 million barrels of oil equivalent a day in the first nine months of the year, an 1.1% increase from the year earlier period.

Daily crude production rose 3.3% to 1.978 million barrels between January and September, while daily natural gas output fell 13.9% in the period to 236,000 barrels of oil equivalent.

Production at Lukoil's Yuzhno Khulchuyu field, which was launched in the third quarter of 2008, reached 5.1 million tons in the period, or 136,934 barrels a day.

Yuzhno Khulchuyu is one of six new fields helping to lift total Russian output volumes this year

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