MOSCOW, March 21 (Reuters) - Fourth-quarter net income forRussia's No.2 oil producer Lukoil rose to 120.5billion roubles ($2.1 billion) from 47 billion roubles a yearearlier thanks to higher oil prices and sales, Lukoil said onWednesday.
Analysts polled by Reuters had expected Lukoil's October -December net income to be 111 billion roubles.
Its shares were up 0.4 percent at 1055 GMT, underperformingthe broader Moscow market, which climbed by 0.9 percent
Lukoil, controlled by its president Vagit Alekperov and hisdeputy Leonid Fedun, has been suffering from declining rates ofoil production mainly due to depleted oilfields in West Siberia.
It said its hydrocarbon output fell 0.3 percent last yeardue to a global deal in which Russia agreed with OPEC to curboutput, as well as lower volumes of "compensation crude oil"from the West Qurna-2 project in Iraq.
Revenues rose to 1.66 trillion roubles in the fourth quarterfrom 1.4 trillion roubles, while earnings before interest,taxes, depreciation and amortisation (EBITDA) increased to 223.7billion roubles from 183.3 billion roubles a year earlier.
The company holds a meeting with investors in London onFriday.(Reporting by Olesya Astakhova and Vladimir SoldatkinEditing by Maria Kiselyova and Edmund Blair)