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Encyclopedia > Lukoil
Open JSC "Oil Company "LUKOIL"
ОАО «Нефтяная компания «ЛУКОЙЛ»
Type Public (RTS:LKOH)
Founded 1991
Headquarters Flag of Russia Moscow, Russia
Key people Vagit Alekperov , LUKoil's founder and chief
Industry Oil and Gasoline, Alternative fuel
Products petroleum and derived products
Service stations
Revenue Image:green up.png$46.28 billion USD (2006)
Net income $6.44 Billion USD (2006)
Employees 150,000 (2006)
Website www.lukoil.com

LUKOIL (RTS:LKOH LSE: LKOD NASDAQ: LUKOY) (Russian: ЛУКОЙЛ; pronounced "Luke-Oil") is Russia's largest oil company and its largest producer of oil. [1] In 2005, it produced 90.16 million tonnes of oil and 7.57 billion cubic meters of natural gas. Image File history File links Lukoil. ... This article does not cite any references or sources. ... The Russian Trading System is a stock market established in 1995 in Moscow, consolidating various regional trading floors into one exchange. ... Year 1991 (MCMXCI) was a common year starting on Tuesday (link will display the 1991 Gregorian calendar). ... Image File history File links Flag_of_Russia. ... Moscow (Moskva) (Russian: , romanised: Moskva, IPA: see also other names) is the capital of Russia and the countrys economic, financial, educational, and transportation centre. ... Vagit Alekperov Vagit Alekperov (Вагит Юсуфович Алекперов in Russian, Vahid Yusuf oÄŸlu ƏlÉ™kbÉ™rov in Azerbaijani) (born September 1, 1950 in Baku, Azerbaijan) is currently a President of the leading Russian oil company LUKOIL. Vagit Alekperov, rated by Forbes magazine as the 48th richest person worldwide with US $12. ... This is a list of petroleum companies. ... The definition of Alternative Fuel varies according to the context of its usage. ... Look up revenue in Wiktionary, the free dictionary. ... Green up arrow for a positive change in revenue from last fiscal year. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... Net income is equal to the income that a firm has after subtracting costs and expenses from the total revenue. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... For the album by the Kaiser Chiefs see Employment (album) Employment is a contract between two parties, one being the employer and the other being the employee. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... The Russian Trading System is a stock market established in 1995 in Moscow, consolidating various regional trading floors into one exchange. ... The Source by Greyworld, in the new LSE building Paternoster Square. ... NASDAQ in Times Square, New York City. ... The oil industry is a type of industry which brings petroleum to a market. ... Pumpjack pumping an oil well near Lubbock, Texas Ignacy Łukasiewicz - inventor of the refining of kerosene from crude oil. ... Natural gas is a gaseous fossil fuel consisting primarily of methane but including significant quantities of ethane, butane, propane, carbon dioxide, nitrogen, helium and hydrogen sulfide. ...


Its international upstream subsidiary is called LUKOIL Overseas Holding. Headquartered in Moscow, LUKOIL is the second largest public company (next to ExxonMobil) in terms of proven oil and gas reserves (ca. 20 bn boe by SPE standards; some 1.3% of global oil reserves). Moscow (Moskva) (Russian: , romanised: Moskva, IPA: see also other names) is the capital of Russia and the countrys economic, financial, educational, and transportation centre. ... For other uses, see Exon (disambiguation). ... An oil well in Canada. ... The barrel of oil equivalent (bboe, sometimes BOE) is a unit of energy based on the approximate energy released by burning one barrel of crude oil. ... Society of Petroleum Engineers is a professional organization whose mission is to collect, disseminate, and exchange technical knowledge concerning the exploration, development and production of oil and gas resources, and related technologies for the public benefit; and to provide opportunities for professionals to enhance their technical and professional competence. ...


Market value of the company on the 29th of December was valued at $73.639 billion [1].


LUKoil's North American Headquarters are in East Meadow, New York, USA. East Meadow is a census-designated place located in Nassau County, New York. ... “NY” redirects here. ...

LUKOIL headquarters in Moscow
LUKOIL headquarters in Moscow

Contents

Image File history File links Metadata Size of this preview: 800 × 600 pixelsFull resolution (2048 × 1536 pixel, file size: 1. ... Image File history File links Metadata Size of this preview: 800 × 600 pixelsFull resolution (2048 × 1536 pixel, file size: 1. ...

History

LUKOIL's name is derived from the three oil companies that were merged in 1991: Langepasneftegaz, Uraineftegaz, and Kogalymneftegaz.


Exploration and production

LUKOIL carries out exploration and/or production of oil and gas in Russia and (as of 2005) nine other countries: Kazakhstan, Azerbaijan, Uzbekistan, Egypt, Iran, Iraq, Colombia, Venezuela, and Saudi Arabia.


In September 2004, ConocoPhillips purchased a 7.6 percent stake in LUKOIL and signed an agreement that could increase this figure in the future to up to 20 percent. [2]. The two oil companies have agreed to develop jointly an oil and gas field in the northern Timan-Pechora area of Russia (Komi Republic) and intend to secure the rights to develop the West Qurna Field in Iraq, one of the country's largest. [3] [4] September 2004 : January - February - March - April - May - June - July - August - September - October - November - December See also: September 2004 in sports Events Deaths in September • 27 Tsai Wan-lin • 24 Françoise Sagan • 20 Brian Clough • 18 Russ Meyer • 15 Johnny Ramone • 12 Fred Ebb • 11 Peter VII of Alexandria • 8... ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston, Texas. ... The Timan-Pechora Basin is an oil field basin in northern Russia. ... Capital Syktyvkar Area - total - % water Ranked 15th - 415,900 km² - negligible Population - Total - Density Ranked 54th - est. ... West Qurna is one of Iraqs largest oil fields, loacated north of Rumaila field, west of Basra. ...


Development of the Aral Sea

Ergash Shaismatov, the Deputy Prime Minister of Uzbekistan, announced on August 30, 2006 that the Uzbek government and an international consortium consisting of state-run Uzbekneftegaz, LUKoil Overseas, Petronas, Korea National Oil Corporation, and China National Petroleum Corporation signed a production sharing agreement to explore and develop oil and gas fields in the Aral Sea, saying, “The Aral Sea is largely unknown, but it holds a lot of promise in terms of finding oil and gas. There is risk of course but we believe in the success of this unique project." The consortium was created in September 2005.[2] Ergash Shaismatov is the current Deputy Prime Minister of Uzbekistan. ... According to the Constitution of Uzbekistan, the Prime Minister of Uzbekistan and the deputy ministers are appointed by the president. ... is the 242nd day of the year (243rd in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday (link displays full 2006 calendar) of the Gregorian calendar. ... Politics of Uzbekistan takes place in a framework of a presidential republic, whereby the President of Uzbekistan is both head of state and head of government. ... Uzbekneftegaz is a state-owned holding company of Uzbekistans oil and gas industry. ... Petronas, short for Petroliam Nasional Berhad, is a Malaysian owned oil and gas company that was founded on August 17, 1974. ... This article lacks information on the importance of the subject matter. ... The Aral Sea (Kazakh: Арал Теңізі (Aral Tengizi), Uzbek: , Russian Аральскοе мοре) is a landlocked endorheic sea in Central Asia; it lies between Kazakhstan in the north and Karakalpakstan, an autonomous region of Uzbekistan, in the south. ...


Oil refining and petrochemical facilities

LUKOIL owns seven oil-processing companies in Russia:

The company also owns several petrochemical plants in Budennovsk, Saratov and Kalush, all managed by "LUKOIL-Neftechim". Volzhsky (Russian: ) is an industrial city in Volgograd Oblast, Russia. ... Location Position of Perm in Russia Government Country Federal district Federal subject Russia Volga Federal District Perm Krai Mayor Igor Nikolayevich Shubin Geographical characteristics Area  - City    - Land    - Water 799. ... Kstovo (Кстово in Russian) is a town in the Nizhny Novgorod Oblast in Russia. ... Nizhny Novgorod Oblast (Russian: ) is a federal subject of Russia (an oblast). ... Ukhta (Russian: ), also spelled Uchta, is an important industrial city in the Komi Republic of northwestern Russia. ... Capital Syktyvkar Area - total - % water Ranked 15th - 415,900 km² - negligible Population - Total - Density Ranked 54th - est. ... The LUKOIL Neftochim refinery seen from the other shore of Lake Burgas LUKOIL Neftochim Burgas (ЛУКОЙЛ Нефтохим Бургас), based in Burgas, Bulgaria, is the lagrest oil refinery in Southeastern Europe and the largest industrial enterprise in Bulgaria. ... Burgas (Bulgarian: , sometimes transliterated as Bourgas) is the second-largest city on the Bulgarian Black Sea Coast with population 205,821. ... ODESSA (German: Organisation der ehemaligen SS-Angehörigen, Organization of Former SS Members) is the name commonly given to an international Nazi network alleged to have been set up towards the end of World War II by a group of SS officers. ... County Prahova County Status County seat Mayor Emil Calotă, Social Democratic Party, since 2000 Area 58. ... Budyonnovsk (Russian: ) is a town in Stavropol Krai, Russia. ... Saratov (Russian: ) is a major city in Russia. ... Kalush (in Ukrainian Калуш; Polish Kalusz, Yiddish קאַלוש Kalush or Kalish) is a city in Southwest Ukraine incorporated in 1939. ...

A LUKOIL station in Vails Gate, New York

Image File history File links Metadata No higher resolution available. ... Image File history File links Metadata No higher resolution available. ... Five-way intersection of Routes 32, 94 and 300 at Vails Gate, NY Vails Gate is a hamlet (and census-designated place) in Orange County, New York, United States. ...

Gasoline retail sales

LUKOIL sells gasoline in 59 regions of Russia and in 19 other countries (Azerbaijan, Belarus, Belgium (through it's subsidiary "Jet"), Bulgaria, Cyprus, Czech Republic, Estonia, Finland (Teboil), Georgia, Hungary, Latvia, Lithuania, Republic of Macedonia, Moldova, Poland, Romania, Serbia, USA and Ukraine), and is planning to start in Montenegro. As of the end of 2004, it has 199 tank farms and 5,405 gas stations.[3] Federal subjects of the Russian Federation Being the largest country in the world, and one of the most populated, Russia incorporates several types and levels of subdivisions. ...


In 2000, LUKOIL purchased the remaining assets of Getty Oil, and began opening Lukoil stations in the United States in 2003. Most of the American LUKOIL stations are converted Getty stations, though some are also converted Mobil stations bought from ConocoPhillips when that company left the Northeast. Getty Oil is an oil company founded by J. Paul Getty. ... Mobil gas station in the Loisaida section of the East Village of New York City Mobil was a major American oil company which merged with Exxon in 1999 to form ExxonMobil. ... ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston, Texas. ... Regional definitions vary The Northeastern United States is a region of the United States defined by the U.S. Census Bureau. ...


In Spring 2004, Lukoil purchased 779 Mobil gas stations throughout New Jersey, New York, and Pennsylvania, and in 2005 began converting them to the Lukoil brand. Official language(s) English de facto Capital Trenton Largest city Newark Area  Ranked 47th  - Total 8,729 sq mi (22,608 km²)  - Width 70 miles (110 km)  - Length 150 miles (240 km)  - % water 14. ... “NY” redirects here. ... Capital Harrisburg Largest city Philadelphia Area  Ranked 33rd  - Total 46,055 sq mi (119,283 km²)  - Width 280 miles (455 km)  - Length 160 miles (255 km)  - % water 2. ...


Management and major shareholders

As of November 30, 2006, the most significant shareholder of Lukoil was the JSC ING Bank Eurasia with 64,34% share. [5] ING House, ING headquarters in Amsterdam ING Groep N.V. (NYSE: ING, Euronext: INGA) (known as ING Group) is a financial institution of Dutch origin offering banking, insurance and asset management services. ...


Board of Directors elected at the Annual General Shareholders Meeting on June 28, 2005 consists of Valery Grayfer (Chairman, General Director of the JSC RITEK), Vagit Alekperov (President of the OAO LUKOIL), Mikhail Berezhnoi (General Director of the Non-Profit Organisation LUKoil-Garant Non-State Pension Fund), Oleg Kutafin (Rector of the Moscow State Law Academy), Ravil Maganov (First Executive Vice-President of the OAO LUKOIL), Richard H. Matzke (Vice-Chairman of the Board of Directors of Chevron Corporation, ChevronTexaco Corporation (2000-2002)), Kevin Omar Meyers (President of Russia/Caspian Region ConocoPhillips), Sergei Mikhailov (Chairman of the Board of Directors of the JSC Managing Company Management Center), Nikolai Tsvetkov (Chairman of the Management Committee of the NIKoil Investment Banking Group), Igor Sherkunov (Chairman of the Board of Directors of the Closed JSC Investment Group Capital), Alexander Shokhin (President of the State University Higher School of Economics). [6] Vagit Alekperov Vagit Alekperov (Вагит Юсуфович Алекперов in Russian, Vahid Yusuf oÄŸlu ƏlÉ™kbÉ™rov in Azerbaijani) (born September 1, 1950 in Baku, Azerbaijan) is currently a President of the leading Russian oil company LUKOIL. Vagit Alekperov, rated by Forbes magazine as the 48th richest person worldwide with US $12. ... Chevron Corporation (NYSE: CVX) is one of the worlds largest global energy companies. ... ConocoPhillips (NYSE: COP) is an international energy company with its headquarters located in Houston, Texas. ... Nikolai Tsvetkov (b. ...


As of 2006, its Management Committee consists of Vagit Alekperov (President of the OAO LUKOIL), Sergei Kukura (First Vice-President for Economics and Finance), Ravil Maganov (First Executive Vice-President of the OAO LUKOIL), Vladimir Nekrasov (First Vice-President for Refining, Marketing and Distribution), Anatoly Barkov (Vice-President, Head of the Main Division of General Affairs, Corporate Security and Communications), Ivan Maslyaev (Head of the Main Division of Legal Support), Alexander Matytsyn (Vice-President, Head of the Main Division of Treasury and Corporate Financing), Anatoly Moskalenko (Head of the Main Division of Human Resources), Leonid Fedun (Vice-President, Head of the Main Division of Strategic Development and Investment Analysis), Evgueni Havkin (Secretary of the Board of Directors, Head of the Board's Office), Lyubov Khoba (Chief Accountant), [[]] (Vice-President, Head of the Main Division of Oil and Gas Production and Infrastructure), Vagit Sharifov (Vice-President, Head of the Main Division of Control and Internal Audit). [7] Vagit Alekperov Vagit Alekperov (Вагит Юсуфович Алекперов in Russian, Vahid Yusuf oğlu Ələkbərov in Azerbaijani) (born September 1, 1950 in Baku, Azerbaijan) is currently a President of the leading Russian oil company LUKOIL. Vagit Alekperov, rated by Forbes magazine as the 48th richest person worldwide with US $12. ...


Motorsport issue

Lukoil Racing Team driver Michael Antonov
Lukoil Racing Team driver Michael Antonov

The company owns a RAF Formula F1600 team nicknamed Lukoil Racing Team. Auto racing (also known as automobile racing or autosport) is a sport involving racing automobiles. ... Image File history File links Size of this preview: 800 × 600 pixelsFull resolution (1024 × 768 pixel, file size: 318 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ... Image File history File links Size of this preview: 800 × 600 pixelsFull resolution (1024 × 768 pixel, file size: 318 KB, MIME type: image/jpeg) File historyClick on a date/time to view the file as it appeared at that time. ...


References

  1. ^ 2005 Annual report
  2. ^ Uzbekistan, intl consortium ink deal on exploring Aral Sea ITAR-Tass
  3. ^ LUKOIL web site: General Information

External links

  • LUKOIL official site
  • LUKOIL's US Site
  • Getty's Official Site
  • Peter Gelling and Azi Paybarah, "Same Gas, Lower Prices," Queen's Tribune, June 17, 2005.
  • Sean Seid, "Sen. Schumer Out Against Gas Price Gouging," The Epoch Times, September 5, 2005: "Senators Charles E. Schumer and Jon S. Corzine are calling for the Federal Trade Commission (FTC) to investigate possible gasoline price gouging on already high gasoline prices caused by Hurricane Katrina in the New York and New Jersey Metropolitan area. The two senators held a press conference at a Luk Oil gas station in Manhattan on Labor Day."

  Results from FactBites:
 
Lukoil Is Lonesome (int'l edition) (1055 words)
For Lukoil's boss, the flush times are a welcome relief from the ruble crisis of two years ago, when his company came close to defaulting on its hard-currency debt and suffered a huge annual loss.
Lukoil reaped $1.3 billion in net profits last year and is on track to push earnings up an additional 30% this year on sales of $13 billion.
Lukoil is also suspected of backing an outside company's purchase of government-owned shares in the oil company at a steep discount.
12.2 Lukoil - Latest Developments (545 words)
LUKoil's president Vahid Alakbarov along with their Board of Directors have decided to concentrate their activities in Azerbaijan in the projects which they operate.
LUKoil's share has been increased from 60 percent to 80 percent, with SOCAR relinquishing 20 percent of their share based on conditions agreed upon by both parties.
LUKoil is exploring the potential for expanding their activities into Turkey, given the potential market there and the favorable geographical location of the country.
  More results at FactBites »

 
 

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