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Lukoil is a russian oil company founded in 1991 by Vagit Alekperov.

LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world accounting around 2% of the world's oil production and around 1% of the proved hydrocarbon reserves.

Each day they improve the quality of life for millions of consumers in over 100 countries around the globe through the supply of our products, power, and heat. They employ over 100,000 people who join their efforts and expertise to ensure the Company’s efficient development and secure its market leadership.


On November 25, 1991, the Government of the Russian Soviet Federal Socialist Republic issued Regulation No. 18 to create LangepasUrayKogalym (LUKOIL) oil industry group that consolidated three oil production enterprises of Kogalym, Langepas and Uray, as well as several refineries, including those in Perm and Volgograd.

The name LUKOIL was formed from the initial letters of the names of Langepas, Urai and Kogalym cities — home to the Company's major oil producing subsidiaries. The name was proposed by Ravil Maganov who was then director general of Langepasneftegaz.


Their corporate mission is to make the energy of natural resources serve the interests of mankind, to efficiently and responsibly develop the unique hydrocarbon fields entrusted to us by providing Company growth, the wellbeing of its employees and community at large.


In 2017, the Board of Directors approved the Strategic Development Program of LUKOIL Group for 2018–2027. The updated strategy is focused on driving sustainable growth in key performance indicators and the Company’s progressive dividend policy in a conservative oil price scenario, while pursuing additional growth opportunities and distributions to shareholders in a more favorable environment.


January 11, 2022
June 3, 2020
Lukoil reports a first-quarter net loss of 46 billion roubles ($669 million) hurt by lower oil prices, a weaker rouble currency and asset impairment losses.
Lukoil reports a net profit of 149.2 billion roubles.
July 17, 2002
Lukoil was founded by Vagit Alekperov.


Further Resources



August 30, 2021
LUKOIL's Fill up with Profit loyalty program for clients of its filling stations is declared best in Russian market by the annual national contest Loyalty Awards Russia 2021. LUKOIL's filling station network competed with other projects, which had scored the highest and had been included into the shortlist, and came first in three categories. The Fill up with Profit loyalty program received the Grand Prix and won the first prize in the Best Filling Stations Network Loyalty Program ...
July 6, 2021
LUKOIL Press Service warns all the concerned parties of false information being distributed in the Internet, namely fraudulent offers to get a substantial discount at LUKOIL fuel stations and to buy fake bonus or fuel cards. The ill-minded persons send out misleading messages by e-mail and SMS, imitate LUKOIL e-mail addresses and social media accounts, and use Company's trademarks and corporate identity without any authorization. We kindly ask you to use caution when communicating wi...
April 12, 2021
LUKOIL and the Republic of Komi signed an additional agreement for 2021 in furtherance of the Cooperation Agreement that is already in force. The document provides for investment into the social infrastructure and amenities of the region. Among other things, LUKOIL will aid in expanding an outpatient clinic and completing construction of a day-care centre in the village of Mutny Materik, as well as installing a water treatment and supply system and opening an outpatient clinic in the vill...
December 29, 2020
LUKOIL's cumulative production of oil has exceeded 35 million tonnes at its Yury Korchagin and Vladimir Filanovsky fields in the North Caspian Sea. LUKOIL carried on with these projects in 2020. In particular, new production wells were drilled, as well as side-track wells to intensify influx of hydrocarbons. In 2020, LUKOIL produced over 7 million tonnes at two aforementioned fields. Moreover, LUKOIL started constructing infrastructure facilities at its third major Caspian project, Valer...
December 28, 2020
LUKOIL started pilot production at Khalmerpayutinskoye gas condensate field of the Bolshekhetskaya depression in Yamal-Nenets Autonomous District. The company has set up well pad at the field and drilled two wells with daily flow rates of 395 thousand cubic meters of natural gas and 31 tonnes of condensate. The following facilities were constructed to gather, process and ship hydrocarbons: a unit for treatment of marketable gas, a gas engine power plant, gas gathering systems, a methanol...
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