Lukoil is not a state oil company. At its inception, Lukoil was Russia’s 1st bold experiment with private oil ownership and with decentralised oil industry decision making
Moscow, March 4 - Neftegaz.RU.
-largest oil producer called for an end to the conflict in Ukraine
The company expressed concerns over «the ongoing tragic events in Ukraine» calling for «the immediate cessation of the armed conflict and fully support its resolution through the negotiation process and through diplomatic means.»
s statement said:
- LUKOIL makes every effort to continue stable operation in all countries and regions of its presence, fulfilling the main mission - to provide reliable energy supplies to consumers around the world
Prominent Russian businessmen outside of the country have been expressing concern over the economic impact of the invasion, but LUKOIL’s statement is among the 1st
such statements from a major company at home.
The company was founded on November 25, 1991 and is headquartered in Moscow.
LUKOIL was established by comprising a group of oil & gas production companies located in the Western Siberian cities Langepas, Urai and Kogalym
The initial letters of these cities were derived to form the acronym LUK.
LUKOIL is in fact highly adaptive, surviving over 30 years of tectonic change in the Russian oil industry.
The company’s net income reached $6.9 billion in 2021, 50 times more than the previous year.