Harness natural energy resources for human benefit
In 1993, the Langepas Uray Kogalymneft Petroleum Corporation was transformed in open joint stock company under the name of Lukoil Oil Company.
Today, Lukoil is listed in London Stock Exchange with the capital dominantly shared across minority stakeholders
With 150,000 employees running operations in exploration and production, refining and petrochemicals, Lukoil stands among the largest integrated oil and gas companies.
Lukoil is ranked 3rd largest non-state publicly traded oil company worldwide by proven reserves of hydrocarbons and 6th largest by production of hydrocarbon
Lukoil domestic operations are concentrated in the Northwest, Volga, Urals and South of Russia.
Downstream, Lukoil intends to benefit from its integrated business model to reduce its exposure to the fluctuations of the crude oil market prices.
Lukoil operates six refineries, all located in Russia, offering a capacity 1,470,000 b/d of crude oil, and 4 gas processing plants.
Behind these refineries, Lukoil runs two petrochemical complex.
Lukoil aligns its refineries on the international standards to reduce the CO2 emissions and meet the diesel low sulfur content below 10ppm in respect with the Euro-5 standards.
The Nizhny Novgorod Refinery has been the first unit to benefit from this upgrading program.
With power and heat facilities in Russia, Bulgaria, Romania, Ukraine, Lukoil produce 3.5 GW/h.
Lukoil Key Figures
– 2010 Revenues: $104,9 billion
– 2009 Revenues: $81 billion
– 2011 Earnings: $10,3 billion
– 2010 Earnings: $9 billion
– 2009 Earnings: $7 billion
– 2011 Capital Expenditure: $8,4 billion
– 2010 Capital Expenditure: $6,8 billion
– 2009 Capital Expenditure: $6,5 billion
Lukoil Projects and business Highlights
As Russian company Lukoil is to contribute directly to restore and increase Russian crude oil proven reserves to support the Russian Government economical program.
On the next decade, Lukoil is planning to invest $100 billion capital expenditure in exploration and production including $25 billion to develop the north of the Caspian Sea with projects such as the Vladimir Filanovsky field in the Caspian Sea.
with upstream projects such as:
– West Qurna2 in Iraq where Lukoil is solely operator in charge since Statoil farmed-out its 18.75% share to its partner Lukoil in January 2012
– Junin-6 Block in the Orinoco Belt in Venezuela in joint venture with other Russian partners through the National Petroleum Consortium (NPC)
with downstream projects or acquisitions such as:
– Heavy-residue hydrocracking complex to be built at the Neftochim Burgas refinery
– 20% in the joint venture of the ISAB refining complex located in Priolo in Sicily, Italy.
– Verolma Group to take over 46 filling stations in the Netherlands and 13 ones in Belgium
– Upgrade all refineries to meet the Euro-5 standard
In the race for growth with Rosneft, Lukoil is moving forward at high pace from Russian local company to global player among the majors companies of the oil and gas industry.