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

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Lukoil Latest News

Saudi Aramco eyes tie-up with Russia's Lukoil in Uzbek gas: RIA

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Posted: July 15, 2019, 11:34 am

Saudi Aramco may participate in two Lukoil projects in Uzbekistan

Saudi Aramco has taken interest in joining two Lukoil projects in Uzbekistan, Kandym and Hissar, but companies have not held negotiations on this issue so far,Trendreports via TASS news agency. "They ...
Posted: July 23, 2019, 6:46 am

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