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Feb 23, 2022 · Lukoil’s largest shareholder is its CEO Vagit Alekperov, who reportedly owns a 20.6 percent stake in the company. Alekperov is also considered the company’s founder. In 1991, he was the central…
What is the Lukoil oil company?
Lukoil, IPA: [ˈluːkɔɪl] stylized as LUKOIL) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petroleum, natural gas, and petroleum products. It was formed in 1991 when three state-run, western Siberian companies named after the respective town in Khanty–Mansi Autonomous Okrug that each was based in, Langepasneftegaz, Urayneftegaz, and Kogalymneftegaz, merged. Its name is the combination of the acronym LUK (initials of the oil-producing cities of Langepas, Uray, Kogalym) and the English word “oil”.
Where is Lukoil located?
Lukoil refinery in Perm. Lukoil owns seven oil-processing companies in Eastern Europe with total capacity of 82.1 million tons per year. In Russia it owns large refineries in Volgograd, Perm, Nizhny Novgorod, and Ukhta refineries and mini-refineries in Uray and Kogalym.
When did Lukoil acquire Getty Oil?
In 2000, Lukoil acquired American oil company Getty Oil, resulting in the control of a network of gas stations in the United States as well as the first time Lukoil enters the American oil market.
How much power does Lukoil generate?
Lukoil has the aggregate power generation capacity of 5,800 MW, of which 73% is for commercial use. Lukoil generates about 99% of electrical power of the Astrakhan Oblast and 62% of the Krasnodar Krai. Its main power generation subsidiaries are Lukoil-Volgogradenergo, Lukoil-Rostovenergo, Luikoil-Kubanenergo, Lukoil-Astrakhanenergo, and Lukoil-Stavropolenergo.
How much did Lukoil drop in 2007?
According to Lukoil, their numbers in 2007 recorded a drop of 7.8% in the volume of pollutant effects and a drop of 3.8% in the area of contaminated lands compared to 2006. These numbers came after an appeal from EMERCON, the Ministry of the Russian Federation for Civil Defense, Emergencies and Natural Disaster Recovery, which proposed that Lukoil participate in the development of monitoring, prevention, and emergency recovery systems.
When was Langepas oil established?
” Langepas, Uray, and Kogalym ” oil (Lukoil) was established by the USSR Council of Ministers Decree No. 18 on November 25, 1991 as a state-owned enterprise. In the new company, three oil production companies, Langepasneftegaz, Uraineftegaz, and Kogalymneftegaz, processing company Permnefteorgsintez, and the Volgograd and Novosibirsk refineries, were merged (the latter soon came under the control of the authorities of Bashkortostan ).
How is oil transported in Russia?
Transportation of oil produced by Lukoil in Russia is carried out for the most part by the pipelines of Transneft, as well as by rail and water transport. Oil produced at the company’s fields in Kazakhstan is transported through pipelines such as the Caspian Pipeline Consortium .
Is Lukoil a publicly traded company?
LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world. The company is responsible for 2% of the world’s oil production. And has more than 100,000 employees. In 2019 Lukoil realized more than US$ 100 billion in sales. With a net profit of US$ 8 billion.
Who is the President of Lukoil?
Alekperov is the President of Lukoil, active in the fuel and energy sector. Which is Russia’s largest independent oil company. LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world.
How many employees does Lukoil have?
The company is responsible for 2% of the world’s oil production. And has more than 100,000 employees. In 2019 Lukoil realized more than US$ 100 billion in sales. With a net profit of US$ 8 billion. It owns more than 2,000 gas stations in the USA.
Who owns Heesen Yachts?
Alekperov and Leonid Fedun are the owners of Heesen Yachts. Which they purchased from founder Frans Heesen for EUR 170 million (US$ 200 million) in 2008. Heesen realizes annual sales of more than US$ 125 million per year.
How much is Vagit Alekperov worth?
Vagit Alekperov’s Net Worth. His net worth is estimated at US$ 17 billion. This makes him one of Russia’s richest men. If playback doesn’t begin shortly, try restarting your device. Videos you watch may be added to the TV’s watch history and influence TV recommendations.
How big is Galactiva Plus?
Galactiva Plus is a 35 meter yacht built in 2012. Its a relatively small yacht, with a volume of 200 tons. The yacht is used by Alekperov as a local boat, near his summer house in Ukraine.
How big is Cosmos?
She is designed by Winch Design and has an interior designed by Sinot Exclusive Yacht Design. Her length will be 80 meters, and her volume is 1,700 tons. She will have a max speed of 29 knots.
Overview
Operations
The company’s proved hydrocarbon reserves as of January 1, 2011 amounted to 17.255 billion barrels of oil equivalent, including 13.319 billion barrels of petroleum and 0.67 trillion cubic meters of natural gas. In terms of proved oil reserves, Lukoil, according to its own information, was the sixth-largest private oil company in the world at the time.
History
“Langepas, Uray, and Kogalym” oil (Lukoil) was established by the USSR Council of Ministers Decree No. 18 on November 25, 1991, as a state-owned enterprise. In the new company, three oil production companies, Langepasneftegaz, Uraineftegaz, and Kogalymneftegaz, processing company Permnefteorgsintez, and the Volgograd and Novosibirskrefineries, were merged (the latter soon cam…
Corporate affairs
In July 2010, the top managers of the company owned the largest stake (more than 30%) of the company’s shares: CEO Vagit Alekperov owning 20.6% and vice-president Leonid Fedun owning 9.8%. The American oil company ConocoPhillips owned 19.21% but due to financial difficulties, completely withdrew from the shareholdersof Lukoil, selling its shares, and in part to Lukoil itself by Februar…
Environmental record
According to Lukoil, their numbers in 2007 recorded a drop of 7.8% in the volume of pollutant effects and a drop of 3.8% in the area of contaminated lands compared to 2006. These numbers came after an appeal from EMERCON, the Ministry of the Russian Federation for Civil Defense, Emergencies and Natural Disaster Recovery, which proposed that Lukoil participate in the development of monitoring, prevention, and emergency recovery systems.
Controversies
On one of the storage ponds of JSC “Lukoil-Volgograd-neftepererabotka” during the period from July 25 to August 8, 1996, the oil sludge was ignited due to the unacceptable conduct of welding operations. The surface layer of oil products was formed during the last two decades, and a similar ignition in this area was already noted in 1972. As a result of the 1996 fire, about 50,000 tons of oil products were burned, since even the soil was saturated with volatile fractions at this …
Criticism
• The Association of Small and Medium-Sized Oil Production Enterprises, also known as Assoneft, criticized Lukoil and the authorities of the Komi Republic for providing tax breaks to the oil companies of the region, which are obliged to extract at least 7 million tons of oil per year and (or) recycle at least 3 million tons. Only two enterprises–Lukoil-Komi and Lukoil-Ukhtaneftepererabotka–correspond to these conditions in the region. In March 2007, the Federa…
See also
• List of companies of Russia
• Petroleum industry of Russia
• Companies of comparable role