History of Lukoil. Oil company Lukoil

Many Russian citizens would like to know who owns Lukoil, one of the largest private oil companies in our country. The recently held international economic forum in St. Petersburg shed light on this mystery. The head and co-owner of the PJSC made a statement. He talked about who owns Lukoil. Vagit Alekperov previously reported that 50% of the company is owned by foreign investors, he personally owns only 20%, and another 10% of the shares are owned by the vice president, Leonid Fedun.

How it was

At a summit on technological innovation and changes in the global energy market, President Vladimir Putin confidently stated that 25% of all Russian oil is produced by companies in which foreign investors participate. He emphasized that we do not have a single large company without foreign participation. Even state-owned Rosneft is a joint-stock company. This fragment of V.V. Putin’s speech was published by the media.

After this statement, the President of the Russian Federation directly addressed Vagit Alekperov with a specific question: “Who actually owns Lukoil? Approximately how many foreigners do you have?” The head of the oil company named the figure - 50%. V. Alekperov himself is the owner of 20% of the shares. But it was not always so.

Previously, the largest foreign holder of Lukoil shares was the American company ConocoPhillips. In the spring of 2010, she sold her stake (about 20%). Buyer information is not disclosed. It is only known that the sale process was completely completed at the beginning of 2011.

And now we have to figure out who owns Lukoil in this moment. There are still rumors on the Internet that ConocoPhillips is still a strategic partner of this oil company. Allegedly, she owns a blocking stake, and her representatives are on the board of directors and participate in joint projects. However, it is not.

Success

The international vertically integrated company is the largest not only in our country, but also in the whole world. It occupies the top position in terms of hydrocarbon reserves. Now a little specifics. Oil reserves in the fields owned by the company are the largest in the world. All experts know this.

PJSC Lukoil produces hydrocarbons not only in Russia, but also far beyond its borders. Where exactly? The company owns numerous mining operations in both Western and Eastern Europe. Therefore, it is not so easy to determine who actually owns Lukoil.

The company sells its products through its retail networks in more than 20 countries around the world. In any case, in the USA, Lukoil gas stations are the first in the number of gas stations among other manufacturers. The shares of this company are traded not only on Russian, but also on foreign exchanges, and are among the so-called “blue chips” supplied from the Russian stock market. Where is the main office of Lukoil located? Address (legal): Moscow, Sretensky Boulevard, building No. 11.

Structure

The competitiveness of a company directly depends on the effectiveness of corporate governance. And it is not just the president of PJSC Lukoil who ensures it. Development is impossible without a well-established management structure that would determine the relationship between shareholders, the executive body and the Board of Directors. Only in this case will investors be confident in the reasonableness of the funds spent by management. A properly structured management structure effectively contributes to the growth of the company's capitalization.

The PJSC system has created reliable and trusting relationships between the community of shareholders and investors. That is why their cooperation is strong, effective and long-lasting. The investment attractiveness of the company increases from year to year.

The principles of interaction between shareholders and the company itself are as transparent as possible. What does it mean? Shareholders of PJSC Lukoil can monitor how general management is carried out, as well as obtain up-to-date information on financial transactions.

Who is at the head of the corporation's management system? This is the Board of Directors, which provides guidance in the interests of shareholders and investors. It consists of independent directors. This approach helps to form an objective opinion of the Council on any of the issues discussed. These factors also strengthen the confidence of shareholders and investors in PJSC Lukoil.

Each division of the general structure has its own director. Each of them was elected to the Council at the general meeting of shareholders in June 2017. It is they who now determine the priority areas of activity of the oil company, are engaged in the development of its strategic, mid-term and annual planning, and will also sum up the results of all work. How many directors are on the Board? There are eleven people in total, including three foreigners (two of them are involved in personnel policy and remuneration, and one is involved in investments).

Persons

The President of the company is Vagit Yusufovich Alekperov, who is an executive member of the Board of Directors and Chairman of the Board of the company. There is a lot written about this man in the media. He has been a member of the Council since 1993.

The Chairman of the Board of Directors is Valery Isaakovich Graifer. This is not his only position. V. Graifer also chairs the Board of Directors of JSC RITEK. At PJSC Lukoil he was elected to the Board of Directors in 1996.

His deputy is Ravil Ulfatovich Maganov, who is an executive member of the council, investment and strategy committee, as well as a member of the company's board. He was the first executive vice president of exploration and production. Member of the Board of Directors since 1993.

Blazheev Viktor Vladimirovich is a member of the Board of Directors, chairman of the audit committee and member of the personnel committee. He also works part-time as the rector of the Moscow State Law University named after Kutafin (MSAL). Member of the Board of Directors since 2009.

It is impossible not to single out one more person. This is Igor Sergeevich Ivanov. He is a member of the Board of Directors, Chairman of the Investment and Strategy Committee, and sits on the Audit Committee. In addition, I. Ivanov chairs the RIAC. Has been on the Board of Directors since 2009. The company's management considers him a valuable employee.

Roger Mannigs is a member of the British-Russian Chamber of Commerce. He is a member of the Board of Directors and chairs the Human Resources Committee. He is also an independent member of the Board of Directors of JSFC Sistema, the largest public diversified financial company in Russia and the CIS, engaged in telecommunications, insurance, finance, media business, retail trade, oil industry, radio electronics, mechanical engineering. It's not yet full list. R. Mannigs has been on the Board of Directors of PJSC Lukoil since 2015.

Introducing another foreign specialist - American Toby Trister Gati. She joined the Board of Directors a year later than Mannigs. Now the woman is on the investment and strategy committee, at the same time being the president of TTG Global LLC. And previously she was the US Under Secretary of State for Research and Intelligence, and also an adviser to Bill Clinton (when he was president) on Russian affairs.

Toby Trister Gati has no intention of leaving politics entirely. But for now, she's happy to be a senior advisor to the world's most profitable lobby group, Akin Gump Strauss Hauer & Feld LLP. She adores Brzezinski. Probably, to form an opinion about the composition of the leadership of NK Lukoil, this information must be taken into account, since the business policy of our country directly depends on the worldview of its participants.

Personnel Committee

Richard Matzke is on the Board of Directors of PJSC Lukoil for the second time: first from 2002 to 2009, then re-elected in 2011. The committee deals with personnel and remuneration. He also serves on the advisory Board of Directors of the American-Russian Chamber of Commerce. That's not all. Richard Matzke also sits on the third Board of Directors of PHI, Inc. (Project Harmony Inc.), and on the Board of Directors of the famous Chinese company PetroChina Company Limited, specializing in oil exploration, production and refining.

Audit and development strategies

Ivan Pictet is a successful Swiss banker. He has been on the Board of Directors of Lukoil since 2012. Serves on the audit committee. In addition, he chairs the Boards of Directors of Symbiotics companies, as well as PSA International SA. In addition, Yvan Pictet is the president of two foundations - Fondation pour Geneve and Fondation Pictet pour le development. He is a member of the AEA European Advisory Board. We talked about foreigners.

Two more members of the Board of Directors are Russians. He is a member of the Investment and Strategy Committee, and also holds the position of Vice President of Strategic Development of the company since 2013. And the second person is Lyubov Nikolaevna Khoba. In addition to being a member of the board of directors, he is the chief accountant of PJSC Lukoil and its vice president.

About committees

In August 2003, committees were created under the Board of Directors. Each of them had their own goals and objectives. Igor Sergeevich Ivanov - Chairman of the Investment and Strategy Committee. Working with him are Toby Trister Gati, Ravil Ulfatovich Maganov and Leonid Arnoldovich Fedun. The Audit Committee is chaired by Viktor Vladimirovich Blazheev. And his colleagues are Igor Sergeevich Ivanov and Ivan Pictet. The HR and Remuneration Committee is chaired by Roger Manning. Viktor Vladimirovich Blazheev and Richard Matzke resolve issues with him.

The actions of the company's management are coordinated by the corporate secretary of PJSC Lukoil - Natalya Igorevna Podolskaya. She is also responsible for communications and interaction between the Board of Directors, shareholders and executive management. Under the supervision of a secretary, compliance is guaranteed officials and the company's management of all procedural requirements to ensure the implementation of the interests and rights of each shareholder. The Corporate Secretary is appointed directly by Vagit Yusufovich Alekperov.

Single share

In 1995, a number of others were added to the structure of the joint-stock company: the Rostovneftekhimproekt Research Institute, Volgogradnefteproduktavtomatika and six more oil companies from Nizhnevolzhsk, Perm, Kaliningrad, Astrakhan. This was both a blessing and a difficulty for Lukoil: five divisions of the company had their own shares, which were independently traded on the stock market. Plus shares of the main holding. Exchange players preferred some securities, others not. And processing plants, unlike mining plants, did not involve traders in the business. That's why they had almost no deals.

When one company has such a wide variety of securities, it becomes very difficult to interact with and find investors. The move to a single share was a good idea. At that time, not a single Russian oil company had yet decided to undertake such transformations. Lukoil became the first. That is why this process was difficult and slow. The entire transition took two years.

Blue chips

The term "blue chip" came to the stock markets from casino enthusiasts. Where did this name come from? The fact is that chips of this particular color in the game are more expensive than others. Now this expression is used for securities or shares of the most reliable, liquid and large companies. These firms boast stable earnings and dividend records. When a single share of Lukoil appeared on the stock market, it immediately received the highest interest from investors.

The state received the opportunity to profitably sell the shares it owned. And Lukoil registered with the Securities and Exchange Commission (SEC) an application to issue first-level receipts for deposits that were intended for sale in the United States on the stock market. Bank of New York agreed to act as depository.

Long haul

In 1996, the company's depositary notes were included in the listings of the Berlin and At the same time, joint ventures LUKARCO and LUKAgip N.V (Italy) were created. Lukoil began to form its own tanker fleet, designed to operate in the Arctic Ocean. By 1999 it was fully operational. Russian specialists have been waiting for this for a long time.

In 1997, there was a huge upset of two billion tons of Iraqi oil and a very expensive contract torn up due to the Kuwait conflict. That's not all. In 1998, there was a crisis with a rapid drop in oil prices throughout the world. The company's budget has been revised. Everything that was low-margin stopped. But shares in domestic and foreign markets still fell, more than 5 times.

Nevertheless, the company continued making acquisitions. On the advice of Dresdner Kleinwort Benson and AB IBG NIKoil, financiers, the KomiTEK company was purchased, then immediately one hundred percent of the shares of Nobel Oil, then 50% of the shares of KomiArcticOil (by agreement with British Gas North Sea Holdings Limited) and so on - right up to the present moment. Is it possible to add that in 2004, Lukoil-USA managed to buy out 779 Lukoil gas stations located in Pennsylvania and New Jersey from ConocoPhilips. More precisely, before the acquisition, all gas stations belonged to the Mobil brand, but were quickly transferred to a new brand.

So who owns Lukoil?

Many Russians want to know this. However, the president of PJSC Lukoil always answered this question evasively. Alekperov said that there is no single shareholder controlling all processes. But he is not ready to discuss the package belonging to the managers. This went on for a long time, until the beginning of 2017.

Now Vagit Yusufovich Alekperov has admitted that the main “strength” of the company is management. Although such a goal was not announced, it was already possible to collect a controlling stake.

The history of LUKOIL, which is just over a quarter of a century long, includes the 90s, the acquisitions of the 2000s, and today’s 1% of the world’s proven oil reserves, 2% of the world’s oil production and 2% of the world’s oil refining.

reference Information

Company name: PJSC LUKOIL.
Legal form of activity: Public joint stock company.
Kind of activity: oil and natural gas exploration and production operations, production and sale of petroleum products.
Revenue for 2016: 4743.7 billion rubles.
Beneficiaries: 50% of the company is owned by foreign investors, according to Alekperov at the international economic forum in St. Petersburg.
Number of staff: 105.5 thousand people
The site of the company: http://www.lukoil.ru.
Pages on social networks:

Every day, millions of consumers from one hundred countries around the world use products, energy and heat produced by one of the largest publicly traded vertically integrated oil and gas companies in the world, PJSC LUKOIL. The enterprises of this oil and gas holding produce more than 2% of the world's oil. The company completely controls the entire production chain, from oil and gas production to the sale of petroleum products.

The history of LUKOIL is in many ways similar to how other domestic oil giants emerged and gained momentum.

Through the pages of history

LUKOIL is almost a tenth of the oil industry of the Soviet Union. The structure of the industry was once determined by B. Yeltsin, who specifically for this purpose issued a corresponding decree in 1992, according to which Rosneft was assigned the role of the largest player, and private traders such as Lukoil, Surnutneftegaz and YUKOS should compete .

A little later in the interview, he spoke about his proposal at the beginning of 1990 to create his company as a huge corporation based on the USSR Ministry of Oil and Gas Industry, similar to the Gazprom concern created by Chernomyrdin.

Only the “oil Gazprom” did not work out. Officials from different ministries failed to reach an agreement among themselves.

And then the oil concern “LANGEPASURAIKOGALYMNEFT” (“LUKOIL”) was created, the RSFSR Government Decree No. 18 on the formation of which was issued on November 25, 1991, which united three oil producing enterprises from Kogalym, Langepas and Uray, as well as several oil refineries, including Perm and Volgogradsky.

The initial letters of the names of the cities Langepas, Urai and Kogalym gave the company the name that the whole world knows today. It was once proposed by Ravil Maganov, general director of Langepasneftegaz.

It was not easy for Alekperov to create an independent oil structure, and it was not without resistance.

“At that time, I was sharply criticized by various authorities for “destroying the industry.” But we survived." (V. Alekperov).

It must be said that the list of enterprises whose shareholdings were formed authorized capital a new joint-stock company, was also determined by a decree of the Government of the Russian Federation (dated November 17, 1992 No. 1403).

A year of work - and LUKOIL, whose oil production level has reached 1.14 million barrels per day, is already among the top three world leaders in oil production after Shell and British Petroleum.

According to the government document, it is now called the open joint-stock company Oil Company LUKOIL, and Vagit Alekperov is appointed its President and Chairman of the Board of Directors.

LUKOIL became the first domestic oil company to begin developing a single share. It was 1995. Two years later the transition took place.

The company is actively expanding the geography of its presence, including international expansion. This:

in 1995
partnership with ARCO (USA);

international projects Kumkol (Kazakhstan) and Meleya (Egypt);
in 1996
international gas project Shah Deniz (Azerbaijan);
in 1997
international projects in Kazakhstan: development of the Karachaganak gas and gas condensate field in the Tengiz project;

West Qurna-2 project (Iraq) (frozen in 2002 and resumed in 2010);
in 1998
Petrotel Refinery (Romania);

the Romanian refinery Petrotel in Ploiesti;
in 1999
Odessa Oil Refinery;

petrochemical enterprises “Saratovorgsintez”, “Stavrolen”;

Neftohim Refinery in Burgas (Bulgaria);
in 2000
the beginning of the development of the Caspian Sea - Russia's maritime project;
in 2002
joint geological exploration and production of oil in the promising Condor block (Llanos basin, Colombia) with the Colombian national oil and gas company Ecopetrol;

participation in the WEEM concession in Egypt;
in 2003
the Anaran onshore project in Iran jointly with the Norwegian company Norsk Hydro;
in 2005
Naryanmarneftegaz is a joint project of Lukoil and ConocoPhillips;

LUKOIL (LSE: LKOD) and ConocoPhillips (NYSE: COP) announce the creation of a large-scale strategic alliance, within the framework of which ConocoPhillips will become a strategic investor in the capital of LUKOIL (news from finam.ru).
in 2006
participation in geological exploration, development and production of hydrocarbons in an ultra-deepwater block near the recently discovered Baobab oil field, the largest in the Republic of Cote d'Ivoire;
in 2008
joint venture with the Italian company ERG S.p.A. for the management of a large ISAB oil refining complex.

LUKOIL was one of the first Russian companies to place American Depositary Receipts (ADRs) on the international market, which since 1996 have been traded on stock exchanges in Germany and on the over-the-counter market in the United States. Bank of New York acted as the depositary bank. At the very first placement in 1997 on the MICEX and RTS, the shares of LUKOIL JSC were immediately included in the first-level quotation list; moreover, they are considered one of the oldest instruments on the Russian stock market. And with the completion of an international audit of reserves, LUKOIL is decisively promoting its shares on the world stock market.

At the turn of the century, an event occurred that meant the company’s unconditional global recognition - entry into the annual ranking of the world’s largest companies Fortune Global 500.

Products of world standards

At the same time, the new generation motor oils LUKOIL-Lux and LUKOIL-Synthetic for the first time received the API mark (American Petroleum Institute), which means they are recognized as products certified and licensed according to international standards.

At the beginning of the new century, LUKOIL was the first Russian oil company to begin large-scale production of LUKOIL Euro-4 diesel fuel and release it for sale. 10 years later, in 2012, it ceases, because all LUKOIL refineries in Russia are switching to the production of motor gasoline that meets only the Euro 5 class (AI-92, AI-95, AI-98). This became possible thanks to the implementation of a large-scale program for the modernization of oil refineries, which the company is actively implementing.

Energy assets of the company

With the acquisition of energy assets (95.53% participation in OJSC SGC TGK-8, with electric and thermal stations located in the Republic of Dagestan, Stavropol and Krasnodar territories, Astrakhan, Volgograd, Rostov regions) from the oil and gas company financial and industrial group (FIG) LUKOIL is transforming into an energy holding.

Source: company website

LUKOIL today

The main activity of the holding is the search and development of oil fields. In addition, it includes processing plants that produce a wide range of petroleum products. The concern also has its own energy assets

LUKOIL is:

enterprises on four continents, in more than 30 countries and in more than 60 constituent entities of the Russian Federation;
geological exploration and production in 12 countries, mainly Russia, Central Asia and the Middle East;
oil refineries and petrochemical plants in Russia and four European countries;
production of high-quality oils in six countries;
a developed network of gas stations in 18 countries;
bunkering infrastructure for ships in four countries;
aviation refueling complexes at airports in 30 Russian cities;
generating and distribution facilities in the south of Russia, Bulgaria and Romania, gas power plants and renewable energy facilities.

LUKOIL today is:

1% of world and 12% of all-Russian proven oil reserves;
2% of world and 15% of all-Russian oil production;
2% of world and 15% of all-Russian oil refining.

If we talk about the main activities of one of the largest domestic oil and gas holdings:

Exploration and production

Oil and gas production is carried out by the company in 6 countries. But the main activity is concentrated in the Russian regions: the Nenets, Yamalo-Nenets and Khanty-Mansi Autonomous Okrugs, the Republics of Komi, Tatarstan, Kalmykia, the Astrakhan, Volgograd and Kaliningrad regions and the Perm Territory.

Source: company website

Processing, marketing and trading

The company's oil refineries operate in Volgograd, Nizhny Novgorod, Perm and Ukhta, in European countries(Bulgaria, Italy, Romania) and in the Netherlands (45% share). Their total capacity is more than 80 million tons per month.

Rice. 2. Oil refineries of the LUKOIL group (map)

It produces high-quality petroleum products, petrochemicals and gas processing products, which are sold in 18 countries around the world.

Source: company website

PJSC LUKOIL also means implementing key projects in order to increase production volumes. As a rule, they are associated not only with the development of new fields, but also with more intensive production of existing ones with the introduction of new ones modern technologies. So, projects of strategic importance:

Other productions

This is the third year since the commissioning of the mining and processing plant (130 km from Arkhangelsk) at the diamond deposit named after. V. Mushroom production continues.

Ukrainian question

In April 2015, LUKOIL announced the closing of the transaction for the sale of Lukoil-Ukraine between the subsidiary of Lukoil OJSC Europe Holdings BV in the Russian Federation and the Austrian AMIC Energy Management GmbH. We were talking about almost 240 gas stations and six oil depots on the territory of Ukraine. The Antimonopoly Committee of Ukraine gave its permission, and now Lukoil-Ukraine is officially called AMIC-Ukraine.

Social projects

since 2000, PJSC LUKOIL has been the general sponsor of one of the most popular Russian football clubs, Spartak-Moscow, of which Sergey Anatolyevich Mikhailov, a member of the board of directors of LUKOIL, became a member of the board of directors;
from the 2011-2012 season. - women's volleyball club "Dynamo", Krasnodar;
“Fairy Tale City” has been “opening” the city since 2011 Nizhny Novgorod for citizens and guests with the help of bright and positive drawings on the walls of houses;
Formula Student is an international project aimed at creating and developing the racing car industry;
“Your profession is your choice!”, aimed at introducing orphans to the basics of creative and media professions;
“There will be sea vessels!” in Kaliningrad made it possible to build an analogue of the ancient fishing sailing vessel kurenas, which was widely used in the 14th-15th centuries.

And there are a great many similar projects. And the competition of social and cultural projects, annually organized by PJSC LUKOIL, became a laureate of the first National program “Best Social Projects in Russia”.

Financial performance indicators of LUKOIL

The company continues to demonstrate effectiveness in the implementation of strategically important projects. At the same time, it maintains fairly high financial stability and demonstrates sufficient flexibility, without losing control over operational and financial factors and risks of primary importance in a difficult macroeconomic environment. Which only confirms the correctness of the chosen business model and management system.

Modern technologies, standardization of production processes and other initiatives have led to curbing the growth of operating costs for production and reducing operating costs for processing. Reductions in capital expenditures have not prevented the most important projects from being fully financed.

The implementation of a conservative scenario for oil prices and effective control over expenses and working capital had a positive impact on the financial stability of the company.

JSC " LUKOIL"is one of the world's largest vertically integrated oil and gas companies, accounting for 2.1% of global production.

The company's proven hydrocarbon reserves at the end of 2012 amounted to 17.3 billion barrels. n. e., 90.6% of them are in Russia.

Activities

Geological exploration and production

The LUKOIL Group implements oil and gas exploration and production projects in 13 countries around the world.

The main part of the Company's activities is carried out in the following areas: federal districts Russian Federation - Northwestern, Volga, Ural and Southern. The main resource base and main oil production region of Lukoil remains Western Siberia, which accounts for 44% of proven reserves and 49% of hydrocarbon production.

International projects account for 9.4% of the Company's proven reserves and 10.2% of commercial hydrocarbon production.

Siberia is the main region for oil production by Lukoil. Photo: lukoilpro.ru

Processing and marketing

The company produces a range of petroleum products, gas processing and petrochemical products and sells products wholesale and retail in more than 30 countries around the world.

LUKOIL owns oil refining capacities in 6 countries around the world.

The total capacity of the oil refineries of the LUKOIL group at the end of 2012 is 77.1 million tons per year.

In Russia, the Company owns 4 oil refineries, 2 mini-refineries, 4 gas processing plants and 2 petrochemical enterprises.

Electric power industry

This business sector of the company includes all areas of the energy business, from generation to transportation and sales of thermal and electrical energy. The Electric Power business sector, the core of which is the assets of JSC SGC TGK-8 acquired in 2008, also includes organizations that generate electrical and thermal energy at the Company’s refineries in Bulgaria, Romania, and Ukraine.

The generating capacity of the LUKOIL Group currently amounts to about 4.0 GW.

One of the enterprises of the Lukoil group is LUKOIL-Astrakhanenergo. Photo: www.lae.lukoil.ru

Lukoil gas stations

Russian refineries of the LUKOIL Group carry out wholesale sales of petroleum products by concluding agreements for the supply of petroleum products with consumers of the wholesale market. Retail sales of Lukoil products are carried out at gas stations operating under franchising and subfranchising agreements. Read more about Lukoil franchise conditions here.

Lukoil Pension Fund

The non-state pension fund "LUKOIL-GARANT" is one of the largest and most reliable NPFs in Russia. It ranks third among Russian non-state pension funds in terms of assets. Founded in Moscow in 1994. During his work, he paid out about 6 billion rubles in non-state pensions. The total number of clients is 2.5 million people. Branches and offices of NPF LUKOIL-GARANT are located in 58 regions of the country. The total volume of financial assets exceeded 100 billion rubles. For 6 years in a row, the Expert RA rating agency has assigned NPF LUKOIL-GARANT the highest reliability rating at the A++ level.

In December 2012, control of the NPF LUKOIL-Garant passed to the Otkritie financial corporation.

Website: http://www.lukoil-garant.ru

On November 25, 1991, Decree of the Government of the RSFSR No. 18 was issued on the creation of the LangepasUrayKogalymneft oil concern, which was subsequently transformed into the Open Joint Stock Company Oil Company LUKOIL.

The name “LUKOIL” is formed from the initial letters of the names of the cities of Langepas, Urai and Kogalym, in which the main oil production enterprises that are part of the Company are located. This name was proposed by Ravil Maganov, who at that time was the general director of the Langepasneftegaz enterprise.

About company

1.0% of global oil reserves and 2.2% of global oil production
17.8% of all-Russian oil production and 18.2% of all-Russian oil refining
company No. 3 among the world's largest private oil companies in terms of proven hydrocarbon reserves
company No. 6 among the world's largest private oil companies in terms of hydrocarbon production
the largest Russian oil business group with revenue of more than $100 billion and net profit of more than $9 billion.
a company whose shares rank second in terms of trading volume among shares of foreign companies traded on the London Stock Exchange (IOB), based on the results of 2010.
leader among Russian companies in information openness and transparency. The first Russian company whose shares received a full listing on the London Stock Exchange
the only private Russian oil company whose share capital is dominated by minority shareholders
largest taxpayer in the Russian Federation. The total amount of taxes paid in 2010 was $30.2 billion.

Performance indicators

2013

2013 was successful for the company in terms of growth in operating indicators (production increased by 1.5% to 2.2 million barrels of oil per day) and high oil prices. However, revenue increased only by 1.6% y/y to $141.5 billion, and net profit decreased by 30% y/y to $7.8 billion. True, this drop is of a “paper nature” - a number of assets in Nenets were written off Autonomous Okrug, Africa, Italy and Ukraine. Increase in net debt and capital expenditures by 28% compared to 2012 (up to $15.4 billion). By 2016, LUKOIL plans to switch to IFRS reporting - perhaps, in the current reporting, preparations have begun for the transition to new standard. In addition, we recall that LUKOIL previously abandoned plans for an SPO in Hong Kong.

Graifer Valery Isaakovich - Chairman of the Board of Directors
Alekperov Vagit Yusufovich - Member of the Board of Directors, President of OAO LUKOIL
Blazheev Viktor Vladimirovich - Member of the Board of Directors of OJSC LUKOIL, Rector of the Moscow State Law Academy
Gref German Oskarovich - Member of the Board of Directors of OJSC LUKOIL, President, Chairman of the Board of Sberbank of Russia
Igor Sergeevich Ivanov - Member of the Board of Directors of OJSC LUKOIL, Professor of the Moscow State Institute of International Relations
Ravil Ulfatovich Maganov - Member of the Board of Directors, First Executive Vice President of OAO LUKOIL
Matzke Richard Herman - Member of the Board of Directors, Former Vice-Chairman of the Board of Directors of Chevron Corporation, ChevronTexaco Corporation
Sergey Anatolyevich Mikhailov - Member of the Board of Directors, Deputy General Director of Kapital Management Company LLC
Mobius Mark - Member of the Board of Directors, Executive President of Templeton Emerging Markets Group
Moscato Guglielmo Antonio Claudio - Member of the Board of Directors, General Director of Gas Mediterraneo & Petrolio
Shokhin Alexander Nikolaevich - Member of the Board of Directors, President of the Russian Union of Industrialists and Entrepreneurs (Employers)

Governing body

Alekperov Vagit Yusufovich - President of the Company
Kukura Sergey Petrovich - First Vice President (Economics and Finance)
Ravil Ulfatovich Maganov - First Executive Vice President (geological exploration and production)
Nekrasov Vladimir Ivanovich - First Vice President (processing and sales)
Barkov Anatoly Aleksandrovich - Vice President, Head of the Main Directorate for General Issues, Corporate Security and Communications
Vorobyov Vadim Nikolaevich - Vice-President - Head of the Main Directorate for Coordination of Sales of Petroleum Products
Malyukov Sergey Nikolaevich - Head of the Main Directorate for Control, Internal Audit and Risk Management
Maslyaev Ivan Alekseevich - Head of the Main Department of Legal Support
Matytsyn Alexander Kuzmich - Vice President, Head of the Main Directorate of Treasury and Corporate Finance
Moskalenko Anatoly Alekseevich - Head of the Main Personnel Department
Mulyak Vladimir Vitalievich - Vice-President, Head of the Main Directorate for Oil and Gas Production
Subbotin Valery Sergeevich - Vice President, Head of the Main Department of Supply and Sales
Fedotov Gennady - Vice President - Head of the Main Directorate of Economics and Planning
Fedun Leonid Arnoldovich - Vice President, Head of the Main Directorate of Strategic Development and Investment Analysis
Khavkin Evgeniy Leonidovich - Secretary of the Board of Directors - Head of the Administration of the Board of Directors
Khoba Lyubov Nikolaevna - Chief Accountant

Activity

Oil and gas production

Oil and gas reserves

In terms of volumes of proven hydrocarbon reserves, the LUKOIL Group continues to be one of the leaders among Russian and international companies. The current hydrocarbon production of the LUKOIL Group is covered by proven reserves for almost 21 years. For oil this figure is 19 years, for gas – 31.

Characteristics of the resource base

The Company's proven hydrocarbon reserves as of January 1, 2011 amounted to 17.255 billion barrels. n. e., including 13.319 billion barrels. oil and 23.615 trillion ft3 of gas.

The bulk of the Company's proven oil reserves are located in Western Siberia, the Timan-Pechora oil and gas province and the Urals. The bulk of proven gas reserves are located in the Bolshekhetskaya depression, Uzbekistan and the Caspian region.

60% of the Company's proven reserves are classified as “developed” (including 66% of oil reserves and 38% of gas reserves). This structure of reserves reflects the high potential for increasing the Company’s production in the medium term, and in particular gas production.

The bulk of the Company's proven reserves are conventional reserves. Only about 4% of the Group's proven hydrocarbon reserves come from high-viscosity oil and 4% from offshore fields. This structure allows the Company to effectively control the costs of developing reserves and quickly bring new fields into production.

Geological exploration

Organizations of the LUKOIL group in 11 countries of the world carry out geological exploration work, the main task of which is to replenish hydrocarbon production with reserves and prepare the raw material base for organizing production and ensuring its accelerated growth in promising regions both in Russia and abroad (Timan- Pechora, Northern Caspian, Bolshekhetskaya depression, Ghana). When carrying out geological exploration work, the Company pays special attention to the use of modern technologies, which can significantly increase the efficiency of geological exploration.

The main volumes of geological exploration work for oil and gas were concentrated in the regions of Western Siberia, the Timan-Pechora oil and gas province and on international projects. The largest exploration projects are additional exploration of the Central Astrakhan gas condensate field, prospecting work in the Caspian Sea in order to assess the oil and gas potential of the Neocomian deposits of the Rakushechnoye field and Lower Cretaceous and Jurassic deposits on the Ukatnaya structure.

In 2010, to identify and detail structures, as well as to prepare for laying exploration wells at promising sites, the Company significantly increased the volume of 2D seismic exploration, which amounted to 6,178 km compared to 2,446 km in 2009. 17% of the work was on international projects due to the expansion of the Company’s activities abroad. The volume of 3D seismic surveys also increased and reached 5,840 km2, with 30% of the work being carried out on international projects. Behind last years The quality of such work and the speed of data processing and interpretation have increased. This is primarily due to the introduction of the latest information technologies. Thanks to high quality seismic exploration, the success rate of prospecting and exploration drilling across the Group consistently exceeds 70%.

The volume of electrical exploration was 793 km. Vertical seismic profiling, which makes it possible to detail the geological structure around an already drilled well, was performed on 8 wells. Exploration drilling progress in 2010 amounted to 118.8 thousand meters. The efficiency of geological exploration work amounted to 1,143 tce. t. per meter of drilling penetration. In 2010, the construction of 32 prospecting and exploration wells was completed, of which 22 were productive.

In 2010, 6 fields were discovered (Olginskoye in Tatarstan, Dulepovo in the Perm Territory, South-Eastern Kyzylbairak and West Aralskoye in Uzbekistan, Arcadia in Egypt and Dzata in Ghana), as well as 25 new oil deposits in fields in Western Siberia and the Perm Territory .

Increase in proven reserves according to SEC standards as a result of geological exploration and production additional information during development drilling amounted to 625 million barrels. n. e. The main organic increase in proven oil reserves was obtained in Western Siberia (68% of the total increase) and in the Komi Republic (12% of the total increase). The LUKOIL Group's expenses for geological exploration work in 2010 amounted to $435 million.

In 2010, exploration drilling in Russia amounted to 102 thousand m, the volume of 2D seismic surveys was 5,076 km, and the volume of 3D seismic surveys was 4,116 km2. Geological exploration costs amounted to $236 million.

International projects

The main task of geological exploration work carried out abroad is to prepare the raw material base for the rapid organization of production. In 2010, exploration drilling for projects in which the Group participates amounted to 17.3 thousand meters. The Company's share in the volume of 2D seismic exploration work on international projects amounted to 1,102 km, 3D – 1,724 km2. Geological exploration costs amounted to $199 million.

As of the end of 2010, the LUKOIL group was conducting geological exploration work in 9 countries outside of Russia - in Colombia, Kazakhstan, Saudi Arabia, Uzbekistan, Cote d'Ivoire, Ghana, Egypt, Venezuela and was preparing for production in Iraq.

Oil production

Oil production by the LUKOIL group in Russia in 2010 amounted to 89,767 thousand tons, including 89,431 thousand tons produced by its subsidiaries.

In 2010, hydrocarbon production by subsidiaries and affiliates of OAO LUKOIL in Russia was carried out at 355 fields. The volume of production drilling in Russia decreased slightly and amounted to 2,286 thousand m. The operating well stock at the end of 2010 amounted to 28.61 thousand wells, including 24.42 thousand producing production.

For the period January-December 2017, oil production in Russia:

Rosneft - 210.8 million tons (-0.3%),
Lukoil - 82.2 million tons (-1.6%),
"Surgutneftegaz" - 60.5 million tons (-2.1%),
Gazprom Neft - 59.9 million tons (+3.8%),
"Tatneft" - 28.9 million tons (+0.9%),
Novatek - 11.8 million tons (-5.5%),
Bashneft - 10.4 million tons (-3.4%),
"Russneft" - 7.0 million tons (+0.2%),
Neftegazholding – 2.1 million tons (-7.5%).

International projects

Oil production under international projects in the share of the LUKOIL group amounted to 6,225 thousand tons, which is 8.3% more than the 2009 level. The growth in production volumes was mainly ensured by the Tengiz and Northern Buzachi projects in Kazakhstan, South-West Gissar in Uzbekistan and Shah Deniz in Azerbaijan.

Production drilling progress for the Company's international projects increased by 25.6% compared to 2009 and amounted to 446 thousand meters. The operating stock of oil wells increased by 14.2% and amounted to 1,738 wells, the stock of producing wells was 1 583. Under international projects in which the Group participates, 279 new production wells were put into operation.

Gas production

Commercial gas production in Russia in 2010 amounted to 13,635 million m3, which is 27.9% more than in 2009. As of the end of 2010, the operating stock of gas wells of the Company in Russia amounted to 306 wells, and the stock of producing wells was 213.

The bulk of natural gas production in Russia (more than 90%) was provided by the Nakhodkinskoye field in the Bolshekhetskaya depression. In 2010, it produced 8.2 billion m3 of natural gas, which is 37.1% more than in 2009 as a result of increased gas purchases from OJSC Gazprom.

Gas production in Russia in 2017 amounted to 690.5 billion cubic meters. m (+7.9% compared to 2016).

Production indicators of companies in 2017:

International projects

Commercial gas production under international projects in 2010 increased by 16.2% compared to 2009 and amounted to 4,919 million m3. At the same time, the share of natural gas amounted to 86%, decreasing by 6 percentage points. As of the end of 2010, the operating stock of gas wells of the Company under foreign projects amounted to 91 wells, and the stock of producing wells was 73.

The main volume of commercial gas production abroad (54%) was provided by the Khauzak-Shady field, which was commissioned at the end of 2007, developed as part of the Kandym – Khauzak – Shady project in Uzbekistan. Commercial gas production there increased by 19.2% and amounted to 2.66 billion m3.

Supply and sales of products

Oil supplies

The total volume of oil sales by the Company, including supplies for processing at its own and contracted refineries, amounted to 114 million tons in 2010. Moreover, due to the higher efficiency of oil supplies to the domestic market compared to most supply routes to non-CIS countries, significant volumes of oil were reoriented from ineffective export directions to the Company’s refineries and sales in the domestic market of the Russian Federation.

Oil supplies

Oil supplies to foreign refineries of the LUKOIL group, to the ISAB and TRN complexes in 2010 amounted to 20.97 million tons, which is 15% higher than in 2009 as a result of the acquisition of a stake in the TRN refinery in September 2009. Supplies of oil for refining to third-party refineries practically ceased in the reporting year (the volume amounted to 0.11 million tons), which was due to the cessation of oil refining at third-party refineries in Belarus at the end of 2009 due to a decrease in the profitability of such operations. In the third quarter of 2010, the Company began refining at a third-party refinery in Kazakhstan.

In 2010, 3.6 million tons of oil were sold on the domestic market, which is 22% more than in 2009. The increase in sales volumes was due to the cessation of oil refining at third-party refineries in Russia Gazprom (including more than 8 billion m3 of natural gas from the Company’s Nakhodkinskoye field) and 4,036 million m3 of gas to other consumers. The increase in gas sales volumes is due to the growth in global demand for gas and the corresponding lifting of restrictions on gas acceptance by OJSC Gazprom. In addition, in the reporting year, supplies of associated petroleum gas from the resources of LLC LUKOIL-Western Siberia to ZAO Purgaz increased more than threefold due to the launch of the North Gubkinskoye field, which was put into operation in June 2009. .

The weighted average selling price of gas in the reporting year increased by 7.4% compared to 2009 and amounted to 1,238 rubles/thousand. m3 (1,148 rubles/thousand m3 to OJSC Gazprom and 1,461 rubles/thousand m3 to end consumers), as a result of an increase in the share of highly efficient supplies to end consumers.

In order to minimize costs in the reporting year, the Company carried out preparatory work to conclude agreements for the supply of gas directly to end consumers (in particular LLC YuGK TGK-8), bypassing intermediaries.

Financial results

The net profit of NK LUKOIL in the third quarter of 2011 amounted to $2.2 billion compared to $2.818 billion a year earlier.

Based on the results of the first nine months, the profit amounted to $9 billion. Meanwhile, analysts expected these figures to be at the level of $3.064 billion and $9.832 billion, respectively.

The most accurate forecast was from Raiffeisen Bank, whose experts predicted LUKOIL's net profit in the amount of $2.594 billion and $9.362 billion, respectively.

The significant increase in financial indicators is mainly explained by the increase in prices for hydrocarbons during the 9 months of 2011 compared to the same period in 2010.

On net profit for the third quarter of 2011 Negative influence incurred losses associated with the depreciation of the ruble in the amount of about $570 million, including income tax expenses on exchange rate differences between the Russian enterprises of the group in the amount of about $340 million, the company explains.

Story

2019: 356th place in the ranking of the most expensive brands

In the ranking of the most expensive brands, which was published on January 22, 2019 consulting company Brand Finance, Lukoil ranked 356th compared to 363rd a year earlier. The oil giant's brand value rose by 19.7% to $5.8 billion.

What does "LUKOIL" stand for? July 30th, 2016

I didn’t even realize that the name of this organization had a meaning. Oil = oil, obviously. What is LUK? Lukomorye? And since I am now in Tyumen, they told me the answer to this question.

So, the name LUKOIL stands for...

L angepas + U paradise + TO ogalym + OIL.

That is, in general, the history of LUKOIL began in 1991, when by decree of the Council of Ministers of the USSR the state oil concern LangepasUrayKogalymneft was created, which included three producing production associations in Western Siberia (Langepasneftegaz, Urayneftegaz and Kogalymneftegaz), as well as processing plants in Perm, Volgograd, Ufa and Mazeikiai.

That's it. Now you are in the know.

Well, then, a little interesting about this oil company.

In the mid-2000s, Lukoil was the largest oil company in Russia in terms of production; after the defeat of Yukos, Vagit Alekperov’s company held the lead for two years, but when most of the assets of the bankrupt were bought by the state-owned Rosneft, Lukoil became second. Among private oil and gas companies in the world, Lukoil ranks first in proven oil reserves (1% of world hydrocarbon reserves) and second in production (more than 2% of world production). The main resource base is Western Siberia; Lukoil recently began production at the Imilorskoye field, one of the largest in the region. In total, Lukoil discovered 14 new fields in 2014, which was the company’s best result over the past 10 years. Lukoil was in many ways a pioneer of the Russian oil industry. He was the first to work on the shelf, implementing large projects in the Caspian, Baltic and Barents seas. According to a government decision in 2008, only Rosneft and Gazprom were allowed to develop new fields on the shelf. Since then, Lukoil has been lobbying for a revision of this norm. In 2015, Rosneft and Lukoil clashed in a fierce battle for the land part of the East Taimyr shelf. In August, Rosneft began to challenge the results of the competition in court, in which Lukoil won. So far, the court has blocked the transfer of the license to Lukoil. The disputed area is partly located on land, partly covers transit waters and partly extends onto the shelf.

Lukoil, along with other domestic companies, suffered from sectoral sanctions; projects in the shale oil fields of the Bazhenov Formation came under attack. After the suspension of cooperation with the French Total, Lukoil had to continue its work on its own.

Lukoil was the first among Russian companies to go abroad. About a third of capital expenditures now come from foreign projects, which the company is implementing in more than 40 countries. The company faced difficulties outside Russia; at the end of 2014, Lukoil recognized a loss from the impairment of assets in Ukraine for $104 million, and in July 2015, the Romanian prosecutor's office opened cases against six top managers of Petrotel Lukoil subsidiaries (owns a refinery in Romania ) and Lukoil Europe Holdings, accusing them of financial fraud and causing damage to the country's economy. The Romanian court, at the request of the prosecutor's office, seized the property and accounts of Lukoil for a total amount of about €2 billion. Lukoil came to Romania back in 1998. The plant's capacity is 2.4 million tons, the enterprise provides about 1,000 jobs and is one of the largest in the region. Lukoil has been present in Europe for 17 years. There are four oil refineries and a network of gas stations in the EU countries. The total amount of European assets is estimated at $9 billion.