Vagit Alekperov stepped down as President of Russia´s LUKOIL after sanctions were imposed on him

Moscow, April 21 - Neftegaz.RU. Russia’s 2^nd-largest oil producer LUKOIL announced today that the 71 year-old Vagit Alekperov will resign, no reason was given for the moves.
Earlier this month, Alekperov was included on a blacklist of Russian officials sanctioned by the UK and Australia.

As of April 1, Alekperov owns and votes 3.12% in LUKOIL.
Through family trusts & mutual funds he is beneficiary of a further 5.43% of company shares, without voting rights.

LUKOIL is not a state oil company.
At its inception, LUKOIL was Russia’s 1^st bold experiment with private oil ownership and with decentralised oil industry decision making.

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.

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