Russia"s largest independent crude producer...

"In the crisis year 2009, our profit equaled about $7 billion. The result is satisfactory and allows us to make investment in unique projects we launched last year," Vagit Alekperov said in an interview with international news channel Russia Today, adding this year was expected to be better for the company.

The company"s chief executive earlier predicted net profit to equal $5-6 billion in 2009.

LUKoil, which accounts for 1.1% of global oil reserves and 2.3% of global oil production, increased crude output 1.8% in 2009 from 2008 to 97 million metric tons (1.9 million barrels per day) and expects to bring hydrocarbon output up 0.8% in 2010 to 116 million metric tons (2.3 million barrels per day) of conventional fuel.

LUKoil"s board of directors approved in late November the company"s development strategy until 2019, authorizing the allocation of $90 billion in capital investment over that period, including $60 billion in geological prospecting and extraction and

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