Lukoil Oil Company (Russian: Лукойл, tr. 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
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
Lukoil is the second largest company in
Russia after Gazprom, and the
largest non-state enterprise in the nation in terms of revenue
(₽4,744 billion). Internationally, it is one of the largest
global producers of crude oil. In 2012, the company produced
89.856 million tons of oil (1.813 million barrels) per
day. The company has operations and subsidiaries in more than
40 countries around the world.
2.1 Oil and gas production
2.1.2 Major oil fields
2.1.3 Domestic projects
2.1.4 Foreign projects
2.2 Oil and gas processing
2.6 Power generation
3 Corporate affairs
3.2.1 Chief executive officer
3.2.2 Board of Directors
4 Environmental record
5.2 Anti-trust law violations
6 See also
8 External links
CEO and founder of Lukoil
"Langepas, Uray, and Kogalym" oil (Lukoil) was established by the USSR
Council of Ministers Decree № 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
Novosibirsk refineries, were merged (the latter soon came under the
control of the authorities of Bashkortostan).
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
On April 5, 1993,
Lukoil transformed itself from a
state-owned enterprise to a private open joint-stock company based on
Presidential Decree № 1403 of November 17, 1992. The Decree also
applied to other state-owned oil companies as well.
Lukoil became the first company to begin offering shares of
stock on the new Russian Trading System.
Lukoil controlled the stakes of nine oil-producing, marketing
and service enterprises in Western Siberia, the Urals, and Volgograd
Oblast in order to abide by Government Decree № 861 of September 1,
1995. In the same year, a 5% stake of
Lukoil was sold by the state
with a minimum excess of the starting price in an auction. In
Lukoil filed with the U.S. Securities and Exchange
Commission to issue American depositary receipts on Western stock
markets. This allowed
United States investors for the first time, to
be able to buy shares in a Russian company.
Lukoil started contributing to the
Shah Deniz natural gas
project, and started to build its own tanker fleet as well.
Lukoil signed a contract with the Iraqi Ministry of Oil for
the development and production of the second stage of the West Qurna-2
oil field. After Saddam Hussein's regime was overthrown, the project
was suspended and later terminated.
Lukoil acquired numerous enterprises such as the
Refinery in Ukraine, the
Burgas Oil Refinery in Bulgaria, and
Lukoil station in Vails Gate, New York, USA
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.
On September 2004,
ConocoPhillips purchased a 7.6% stake in
about $2 billion. According to some commentators, the sale of this
deal was planned before in a personal meeting between Russian
Vladimir Putin and ConocoPhillips' president and CEO, James
Mulva. After the auction,
ConocoPhillips announced the
creation of a strategic alliance. Later, the American company
increased its stake to 20% in
Lukoil and sold to the Russian company
part of its network of gas stations in the
United States and Western
Europe. The two oil companies also agreed to jointly develop an oil
and gas field in the northern
Timan-Pechora area of
Republic) and intended to secure the rights to develop the West Qurna
Field in Iraq, one of the country's largest.
Uzbekistan's deputy prime minister
Ergash Shaismatov announced on 30
August 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, stating "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". In December 2006,
Lukoil announced the
acquisition of 376 filling stations in six European countries:
Belgium, the Czech Republic, Finland, Hungary, Poland, and Slovakia,
Lukoil established a joint-venture with Russian energy
Gazprom and in 2008, established a joint-venture as well
with Italian oil company ERG S.p.A.. In 2009,
Lukoil and Norwegian
Statoil won a tender offer for the development of the West
Qurna Field in Iraq. However, in early 2012,
Statoil withdrew from the
project, resulting in
Lukoil consolidating 75% of development of the
From 2010 to February 2011,
ConocoPhillips sold its whole 20% stake in
Lukoil due to its difficult financial situation.
In September 2012,
Lukoil created a shared service centre in the Czech
Republic to provide accounting services to its subsidiaries in
Belgium, Poland, and Bulgaria. In December 2012,
Lukoil bought the
Imilor field for ₽50.8 billion in the Khanty-Mansi Autonomous Okrug
to explore and develop the hydrocarbon deposits located there.
In February 2013,
Lukoil sold the
Odessa Oil Refinery to the Ukrainian
"East European Fuel and Energy Company" (VETEK). For Lukoil, the oil
refinery was unprofitable when production was stopped as early as
October 2010 and the refinery finally closed in the summer of
2013. In April 2013,
Lukoil agreed to buy Hess Corporation's
Russian unit for $2.05 billion.
In 2014, the company faced a sharp decline in retail sales in Ukraine
by 42%, caused by Russian intervention in Ukraine. As a result, the
Lukoil has agreed to sell a 100% its subsidiary Lukoil
Ukraine to the Austrian company AMIC Energy Management, which was
announced at the end of July 2014.
Lukoil sold its service stations in the Czech Republic,
Slovakia, and Hungary.
In 2015, it sold its service stations in
Estonia and Ukraine, and in
2016, it sold its service stations in Latvia, Lithuania, Poland, and
Oil and gas production
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
In addition, probable hydrocarbon reserves as of January 1, 2011 were
8.46 billion barrels of oil equivalent (including oil 6.47 billion
barrels of petroleum and 0.34 trillion cubic meters of natural gas).
Possible reserves were 3.17 billion barrels of oil equivalent
(including 2.78 billion barrels of petroleum and 65.7 billion cubic
meters of natural gas).
More than half of Lukoil's oil reserves are concentrated in Western
Siberia. Its main production operator is Lukoil-Western Siberia
located in the Khanty-Mansi Autonomous Okrug. About half of the
natural gas reserves are located in the deposits located on the Gydan
Peninsula in the Yamalo-Nenets Autonomous Okrug.
Major oil fields
Production as of 2007 (thousand tons)
The operating fund of oil wells of
Lukoil on October 1, 2005 was 26
626 wells, the idle fund - 4532 or 17% of the operating one. As
compared to the beginning of 2005, the operating fund increased by 124
wells, and the non-operating fund decreased by 209 wells. The
operating fund of injection wells was 8079 as of October 1, 2005 (133
wells more than at the end of 2004), the operating fund - 6238 wells
(263 wells more than at the end of 2004).
On July 1, 2005,
ConocoPhillips created a joint-venture
"Naryanmarneftegaz" to develop oil and gas deposits in the
Timan-Pechora Basin in the north of the European Russia. Lukoil's
share in the joint venture is 70%, while ConocoPhillips' share is 30%.
On December 2011,
Lukoil established a joint venture with
develop the Trebs and Titov oil fields. Total recoverable reserves and
oil resources from these fields are 89.73 million tons in C1 category,
50.33 million tons in C2 category and 59.29 million tons in category
The operator of Lukoil's foreign projects in the exploration and
production sector is its subsidiary,
Lukoil is involved in the implementation of 16 projects for the
exploration and development of structures and deposits in the
Azerbaijan (D-222 (Yalama), Shah-Deniz)
Kazakhstan (Tengiz, Karachaganak, Kumkol, Karakuduk, Northern Buzachi,
Alibekmola, Kozhasai, Arman, Zhambai South, Atash, Tyub-Karagan);
Uzbekistan (Kandym-Khauzak-Shady-Kungrad, Aral, Kungrad, South-West
Egypt (Meleiha, West Esh-El-Mallah, West Geisum, Northeast Geisum)
Iraq (West Qurna-2)
Colombia (the Condor project in conjunction with the Colombian state
Ivory Coast (production sharing agreement on the offshore block CI-205
in the Gulf of Guinea)
Venezuela (Junin Block 3)
Ghana (Cape Three Points Deepwater)
The extraction of hydrocarbons from all the above projects is carried
out only in
Kazakhstan (5.5 million tons of oil and 1.9 billion cubic
meters in 2006) and
Egypt (0.2 million tons).
Oil and gas processing
Lukoil refinery in Perm
Lukoil owns seven oil-processing companies in Eastern
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. It also owns
refineries in Bulgaria, Romania, and Italy, and has a 45%-stake in an
oil refining complex in the Netherlands.
Capacity, mln tpa
Lukoil-Odessky Neftepererabatyvayuschiy zavod
Lukoil Neftochim Burgas
* – 49% and 45% shares respectively
The company also owns Korobkovsky, Usinsky, Perm, and Lokosovsky gas
processing plants as well as several petrochemical plants in
Saratov and Kalush, Ukraine, all managed by
In 2007, the refinery processed 52,164 thousand tons of oil, including
42,548 thousand tons at Russian plants. In 2005, the gas refining
plants of the company processed 2,261 million cubic meters of gas raw
materials and 479,000 tons of a wide fraction of light hydrocarbons.
Speaking at a press conference in New York on October 18, 2006, the
Vagit Alekperov said
Lukoil is refusing to build a new
refinery in Russia. According to him, "at this stage it is inexpedient
and economically inefficient." At the same time,
Lukoil planned to
build a large complex in
Kalmykia for the processing of natural gas
from the North Caspian fields worth over $ 3 billion. The work was
supposed to start in the spring of 2008. Also in March 2007, Lukoil
announcied it would expand the capacity in the
Lukoil Neftochim Burgas
refinery in Burgas,
Bulgaria from 7.5 million tons to 10 million tons
of oil per year.
Burgas refinery in Burgas, Bulgaria.
The subsidiary company Lukoil-Neftekhim specializes in petrochemistry,
and operates the Stavrolen (Budyonnovsk), Saratovorgsintez, and the
Karpatneftekhim (Kalush, Ukraine) petrochemical plants. Petrochemical
facilities are also part of the Neftochim
Burgas Combine in Bulgaria.
"Lukoil" is the largest producer of alkene and acrylonitrile in
Eastern Europe. Together with Sibur, Lukoil-Neftekhim owns a
controlling stake in the Polief plant.
In 2005, Lukoil-Neftekhim's petrochemical enterprises produced 1.8
million tons of commercial products, including 402,000 tons of
polyethylene and 128,000 tons of acrylic acid nitrile. In addition,
372.5 thousand tons of petrochemical products were produced at the
Bulgarian oil refinery
Lukoil Neftochim Burgas.
One of the most important petrochemical projects of
Lukoil is the
construction of the Caspian gas chemical complex. The complex would
produce a wide range of petrochemical products, including products of
basic organic synthesis, polyethylene, and polypropylene.
Transportation of oil produced by
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
transported through pipelines such as the Caspian Pipeline Consortium.
Lukoil owns a number of oil and oil products terminals used for the
export of oil and oil products:
The terminal in
Vysotsk port off of the Gulf of
Finland with a
capacity of 10.7 million tons of oil and oil products per year since
The terminal near Varandey off of the
Barents Sea with a capacity of
12.5 million tons of oil a year is used for shipment of oil produced
The terminal in the port of Svetly,
Kaliningrad Oblast, off of the
Baltic Sea with a capacity of 6 million tons of oil and oil products.
The terminal "Astrakhan" in the village of Ilyinka in the Astrakhan
Oblast with a capacity of 2 million tons of oil and oil products.
Lukoil gas station in Macedonia
Lukoil sells petrol in 59 regions of
Russia and in 17 other
countries, both CIS and Western: Azerbaijan, Belarus,
its subsidiary "Jet" until late 2008, and progressively directly under
Lukoil brand), Bulgaria,
Croatia (operated by
Lukoil Croatia, but
under the brand name "Europa-Mil"),
Finland (Teboil), Georgia, Italy,
Luxembourg, Macedonia, Moldova, Montenegro, Netherlands, Romania,
Turkey and the United States. As of January 2014[update], it
had 166 tank farms and 5,867 filling stations.
Retail sale of oil products is carried out for the most part under the
trademark Lukoil. In the US, part of the company's filling stations
operate under the trademarks Getty and Mobil.
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.
Lukoil operates two solar power plants at its own refineries in
Bulgaria with respective capacity of 9 MW and
1.3 MW. A 10-MW solar plant is under construction at the
Volgograd Refinery. It also owns a 84-MW wind farm in Topolog,
Mikhail Aleshin driving
Lukoil sponsored car in Formula Renault 3.5
Lukoil has been titular sponsor of FC Spartak
Moscow since 2000.
The company's vice president, Leonid Fedun, is also the owner of the
club since 2003. Since 2001, the company has been sponsoring the
Children's Football League. In addition, the company sponsors a number
of regional Russian teams in various sports.
In particular, the company sponsors the
Volgograd water polo club
Lukoil also sponsors the Russian Olympic Committee
and is one of the founders of the Russian Olympians Support Fund. In
Lukoil signed an agreement with the government of
Arkhangelsk Oblast about supporting Vodnik. Vodnik was the
dominant force of Russian bandy for a decade, starting in the
Lukoil has been involved in motorsports for more than ten years. The
Lukoil Racing team is a leading Russian motorsport organization and
has achieved notable successes both in
Russia and in Europe, winning
more than 60 championships over the years.. Lukoil's operations
include management, driver training and support, engineering expertise
and a quality technical environment.
In addition to Russia,
Lukoil sponsors various sports teams in all
countries where it operates. The company sponsors the football club FC
Rapid București of Romania, the football club
FC Zimbru Chișinău
FC Zimbru Chișinău of
Moldova, the National Federation of
Motorsport of Ukraine, and the
men's basketball club Lukoil-Akademik, the women's Lukoil-Neftohimik,
the volleyball, acrobatic clubs and club of the same name rowing, as
well as the club of martial arts "Lukoil-Ikken" of Bulgaria.
In July 2010, the top managers of the company owned the largest stake
(more than 30%) of the company's shares:
Vagit Alekperov owning
20.6% and vice-president
Leonid Fedun owning 9.8%. The American oil
ConocoPhillips owned 19.21% but due to financial difficulties,
completely withdrew from the shareholders of Lukoil, selling its
shares, and in part to
Lukoil itself by February 2011. The remaining
shares were freely traded on the London Stock Exchange, the Frankfurt
Stock Exchange, the Russian Trading System, and the
Currency Exchange. Market capitalization of the company was $ 64.4
billion as of September 1, 2008). The nominal holders of Lukoil's
shares that keep and store them are the Bank of New York, which owns
61.78% and Cypriot company
Lukoil Employee Ltd. which owns 10.79% and
is controlled by the Bank of
Cyprus through Odelia Resouces
Chief executive officer
1993–present: Vagit Alekperov
Board of Directors
List of directors that were elected on June 21, 2017:
Valery Grayfer -
Chairman of Board
Vagit Alekperov - CEO
Richard H. Matzke
This section needs expansion. You can help by adding to it. (January
Lukoil gas station in Tula, Russia
The company "Lukoil" owns controlling stakes or otherwise controls the
following main organizations:
Lukoil-Nizhnevartsk milling factory
Lukoil Overseas Holding Ltd. (Perm)
Lukoil Americas Corporation
Lukoil Macedonia Ltd.
Trade house "Lukoil"
Czech Republic s. r. o (Prague, Czech Republic),
Lukoil-Belorussia (Minsk, Belarus),
Belgium N.V. (Belgium)
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
Lukoil participate in the development of monitoring, prevention,
and emergency recovery systems.
In an effort to increase productivity,
Lukoil organized a contract to
begin an oil pumping block in the
Azerbaijan sector of the Caspian
Sea. It arranged an Environmental Impact Assessment of the drill site
in order to organize a second exploration drill. This block, D-222,
was the largest prospective structure in the north-east section of the
Caspian Sea as of 2008. The key issue of the assessment was the
amount of damage the block would be doing to fish stock in the area.
Taking into account the depth of the operation of about 700 meters,
the amount of harm was predicted to be minimal, with most of the fish
harmed being plankton and benthos. A rescue and salvage ship was
supposed to be placed into operation to mitigate the impact on the
Lukoil was reported in 2008 to have developed contingency plans
for oil spills, and implemented environmental monitoring.
At the same time,
Lukoil faces criticism from various environmental
organizations. In particular, the company's oil production on the
Baltic Sea near
Kaliningrad Oblast was criticized as it is 22
kilometers away from the Curonian Spit, a
UNESCO World Heritage
According to a number of critics,
Lukoil inherited the worst standards
of the Soviet oil industry with respect to the environment, not taking
enough responsibility to minimize pollution in its oil fields and
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 site. In the fire, the concentration of carbon monoxide exceeded
the permissible standards by almost 28 times, nitrogen dioxide
tripled, hydrogen sulfide and phenol more than 1.5 times. In the
residential areas of the Krasnoarmeysky district of Volgograd, located
7 km from the fire, as well as in the nearby settlements - B. and M.
Chapurnik, Dubov Gully, Chervlen, Tingut - the content of combustion
products in the air also exceeded the maximum permissible
concentration. In the liquidation of this major technogenic emergency
situation with severe environmental consequences, the divisions of the
Ministry of Emergency Situations of
Russia took part.
In the fall of 2003, the Russian Emergencies Ministry revealed the oil
spill as a result of the depressurization of the interfacial oil
pipeline belonging to the TPP Lukoil-Usinskneftegaz on the territory
Komi Republic near the city of Usinsk. The area of oil
pollution in one case was about 1.8 thousand m², in the second - 377
On January 25, 2011 at about 10:00 (local time), as a result of oil
leakage in the engine room LGPZ (CCI "Langepasneftegaz"), there was a
fire. Fire extinguished more than 50 fighter. The plant suspended its
On April 20, 2012 at the Trebs field, developed jointly by
Bashneft, there was an accident that caused significant damage to the
natural environment: over a day, continued flowing of oil from the
re-opened well, which led to large-scale contamination of the
territory. According to the press service of the administration of the
Nenets Autonomous District, the contamination area exceeded 5 thousand
square meters, the volume of spilled oil, according to Bashneft, was
600 tonnes (in independent sources numbers were up to 2.2 thousand
Anti-trust law violations
In November 2009, the
Federal Antimonopoly Service
Federal Antimonopoly Service of
imposed a record fine of ₽6.54 billion on the company for violating
anti-trust legislation. The fine was imposed for the abuse of the
company's dominant position in the wholesale market of petroleum
products in the first half of 2009, expressed in "the seizure of goods
from circulation" and the creation of "discriminatory conditions for
the sale of petroleum products to individual counterparties." As FAS
has calculated, these actions led to an increase in prices in the
wholesale markets of motor gasoline, diesel fuel, and aviation
kerosene in the first half of 2009.
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
Lukoil-Ukhtaneftepererabotka–correspond to these conditions in the
region. In March 2007, the
Federal Antimonopoly Service
Federal Antimonopoly Service initiated a
case against the State Council of the Komi on the grounds of violation
of Part 1 of Art. 15 of the Law "On Protection of Competition" with
regard to restricting competition in the oil production and refining
On October 2005, then-prime minister of Lithuania, Algirdas
Brazauskas, was in the center of the scandal involving
Lukoil . The
opposition of the Lithuanian parliament, Homeland Union, began
collecting signatures for the creation of a parliamentary commission
to investigate the entrepreneurial activity of Brazauskas' wife,
Christina Butrimene-Brazauskiene, in particular with the acquisition
of a 38% stake in the elite Vilnius
Crowne Plaza hotel from the wife
of the head of the Lukoil-Baltija company. The charges were related to
Lukoil's contention at that time for a stake in one of the largest
enterprises in Lithuania, the oil refinery ORLEN Lietuva. Brazauskas
rejected allegations of corruption, but admitted his wife owns 51% of
the hotel shares, and another 48% belong to his son. On November 22,
at the insistence of the country's president Valdas Adamkus, Algirdas
Brazauskas spoke on television, saying he was not involved in the
privatization of the hotel, and that all charges should be considered
by law enforcement bodies, not by the parliamentary commission.
On February 25, 2011, Lukoil's vice president Antony Barkov crashed
his Mercedes S500 into a
Citroën car with doctor Olga Alexandrina and
famous obstetrician Vera M. Sidelnikov inside, which both women died.
General Administration for Traffic Safety
General Administration for Traffic Safety blamed the driver of the
Citroën but it was suggested the administration was covering up that
the real culprit of the accident was the driver of the Mercedes, who,
according to eyewitnesses, was driving around the stop and went to the
oncoming lane. There is also some speculation that the driver of the
Mercedes was the vice-president of
Lukoil himself. A few days after
the accident, the Head of the State Traffic Safety Inspectorate of
Moscow issued a decision on incomplete official correspondence to the
commander of the DPS battalion, who executed the accident on Leninsky
Avenue because he prematurely called the driver of Citroen, Olga
Alexandrin, the culprit of the accident. The incident caused a public
reaction, in particular, the boycott of gas stations of this company
was organized. Andrei Bacharovre announced the advertisement of Lukoil
based on this accident, and
Noize MC wrote the song "Mercedes S666
On July 2011,
Lukoil had conflict with Bulgarian authorities.
According to the authorities of the Balkan state, the company's
Bourgas refinery did not have timely installed meters for the
manufactured fuel (used to determine the amount of excises paid),
which, according to officials,
Lukoil allegedly underpaid about €250
million to the country's budget. As a result, the company lost its
license and was stopped, but in early August 2011 the plant was
On September 14, 2012 more than fifty
Lukoil gas station owners in New
Jersey and Pennsylvania temporarily raised their prices to over $8 a
gallon to protest Lukoil's wholesale gas pricing. The owners are
typically charged a wholesale price that is 5 to 10 cents a gallon
more than their competitors and some are assessed an additional 25 to
30 cents per gallon based on their location. According to the
station owners this makes it difficult to be competitive with stations
that sell more established brands for lower prices.
On January 2015, the Security Service of
Ukraine announced an
investigation into whether
Lukoil had financed separatists in
On March 2016, there were accusations by the press of the company not
acquiring rights to part of the Massandra vineyards in Crimea.
In March 2018, the data firm Cambridge Analytica, tied to the 2016
Trump Campaign, was accused of discussing "political targeting" of
American voters with representatives of Lukoil.
List of companies of Russia
Petroleum industry of Russia
Companies of comparable role
Royal Dutch Shell
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