Record results for LUKOIL in Q2 2018. Net profit soared to RUB167 billion (US$2.7 billion), primarily due to higher oil prices and the weaker rouble. EBITDA was up 33.1% year-on-year in rouble terms. In Q2 2018, the company's output remained stable at 2.3 million boe/d due to Russia's obligations to the OPEC production cuts. Despite this, operational highlights include completion of new horizontal wells at Vladimir Filanovski and Yuri Korchagin fields. LUKOIL is also increasing drilling the Imilorskoye greenfield, where production could reach 48,000 b/d by 2023. All of these are part of the organic growth strategy announced in January 2018.