Industry News by Nemesis

Lukoil’s Grib Diamond Sales Jump

November 30, 2016

Lukoil’s diamond revenue from its Grib mine in Russia rose 33 percent to $61.9 million (RUB 4 billion) in the third quarter, the country’s largest oil producer reported.

The deposit is Lukoil’s only diamond asset. Production of rough diamonds started in September 2014 with sales amounting to $162 million in 2015, its first full year of operations. Lukoil’s group revenue slid 11 percent to $20.3 billion (RUB 1.31 trillion) in the third quarter because of lower oil prices. 

Diamond sales more than doubled to $232.3 million (RUB 15 billion) from $108.4 million (RUB 7 billion) in the first nine months of the year.


Source: Rapaport

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