Lukoil Net Worth is$55.3 B
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Type: Public company (Open Joint-Stock Company)
Traded As: LKOH, LUK
Foundation: 1991
Location City: Moscow
Location Country: Russia
Key People: Vagit Alekperov (CEO)
Industry: Oil and gas industry
Products: Petroleum, Petrochemicals
Revenue: operating income
Net Income: {{profit US$ 10.4 billion (2011)
Num Employees: 150,000 (2011)
Lukoil (/E?luE?kE?E?l/; Russian: ??N???? 3/4 ???>>; stylized as LUKoil; traded as MCX: LKOH, LSE: LKOD, FWB: LUK) is Russia's second largest oil company and its second largest producer of oil. In 2009, the company produced 97.615 million tons of oil; 1.972 million barrels per day (313,500 m3/d).
Headquartered in Moscow, Lukoil is the second largest public company (next to ExxonMobil) in terms of proven oil and gas reserves. In 2008, the company had 19.3 billion barrels of oil equivalent per SPE standards. This accounts to some 1.3% of global oil reserves. The company has operations in more than 40 countries around the world.
Lukoil was formed in 1991 when three state-run, western Siberian companies named after the respective town in Khantya??Mansi Autonomous Okrug that each was based, Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz, merged. The initials of the three companies are preserved in the name Lukoil. The central figure in the company's founding was the Soviet deputy minister of oil production Vagit Alekperov. He came to believe the only way Russians could compete against western companies was to copy their business model. That meant vertically integrating the three branches of the industry - exploration, refining, and distribution - that were strictly separate under the old Soviet system. It is one of the largest tax payers of the Russian Federation, and the amount of taxes paid in 2010 is US$30.2 billion. It was one of the first Russian companies to receive full listing on the London Stock Exchange.
In 1994, Lukoil became the first company to begin offering shares of stock on the new Russian Trading System.
Lukoil carries out exploration and/or production of oil and gas in Russia and as of 2008 thirty other countries, amongst others Azerbaijan, Belgium, Bulgaria, Colombia, Egypt, Kazakhstan, Iran, Iraq, Saudi Arabia, Uzbekistan, and Venezuela.
In September 2004 ConocoPhillips purchased a 7.6% stake in Lukoil and signed an agreement that

Lukoil Latest News

Rosneft cancels Lukoil's oil purchase deal with Bashneft

Russia's oil producer Rosneft asked Lukoil to cancel a crude oil purchasing contract with Bashneft, which RBC daily put at 400 billion rubles ($6.4 billion). Earlier this month Rosneft acquired just over 50% in Bashneft for 330 billion rubles as part of a ...
Posted: October 28, 2016, 12:03 am

Lukoil Is Driving Diplomacy Between Russia And Iran

On September 17th, Iran’s parliament endorsed a new Petroleum Contract put forward by the energy ministry and the cabinet. The coming weeks will reveal which oil majors are willing to risk investment in ventures with the National Iranian Oil Company (NIOC).
Posted: October 15, 2016, 10:13 am

Rosneft decides to terminate contract of Bashneft with Lukoil on oil supplies early

MOSCOW. Oct 28 (Interfax) - Rosneft (MOEX: ROSN) has issued a proposal on the early termination of the contract with Lukoil (MOEX: LKOH) on oil supplies and reciprocal supplies of petroleum products to Litasco, Rosneft's official spokesperson told Interfax.
Posted: October 28, 2016, 1:48 am
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