LUK Oil
LUK Oil -- LangepasUraiKogalymneft -- is a Russian, state-owned oil company comprised of the Langepasneftegas, Uraineftegas and Kogalymnefte "gas production associations and selected refining operations," was established on 25 November 1991. LUKOIL takes its name from "LangepasUraiKogalymneft," which were "re-organised into an open joint stock company by decision of the Council of Ministers of the Russian Federation" on April 5, 1993. In compliance with a Presidential Decree on November 17, 1992, the Government transferred 38% of the ordinary shares (51% of the voting shares) of the three original production associations, as well as two refining companies, seven wholesale and retail distribution companies and three oil industry related companies, to LUKOIL. The remaining shares in these companies was "held by the management and employees of these organisations and by others. Company LUKOIL was registered at the Moscow Registration Chamber on April 22, 1993." Early in 1994, LUKOIL was re-organised into Open Joint Stock Company. [1]
"LUKOIL is one of the world's biggest vertically integrated companies for production of crude oil & gas, and their refining into petroleum products and petrochemicals. The Company is a leader on Russian and international markets in its core business". [1]
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Getty Petroleum
At the end of 2000, LUKOIL became the owner of Getty Petroleum Marketing Inc., an American company which controlled "1,260 petrol stations in thirteen Northern-Eastern states of the USA. The company market share is 4% in the area as a whole and 9% in core urban areas such as New York and New Jersey." [2]
Carbon reserves
According to the Carbon Tracker report, "Unburnable Carbon - Are the world's financial markets carrying a carbon bubble?", Lukoil has the second highest estimated carbon reserves of any company on the globe, estimated at 43.6 Gt of CO2.[2]
Business partners
LUKOIL's business partners include American petroleum companies Exxon Mobil, Shell Oil, Conoco, and ChevronTexaco.[3]
Board
Accessed October 2012: [3]
- Valery Grayfer - Chairman of the Board of Directors
- Vagit Alekperov - Member of the Board of Directors, President of OAO "LUKOIL"
- Victor Blazheev - Member of the LUKOIL Board of Directors, Rector of the O.E. Kutafin Moscow State Academy of Law
- Igor Ivanov - Member of the LUKOIL Board of Directors, Professor of the Moscow State Institute of International Relations
- Ravil Maganov - Member of the Board of Directors, First Executive Vice-President of OAO "LUKOIL", Exploration and Production
- Richard H. Matzke - Member of the Board of Directors, former Vice-Chairman of the Board of Directors of Chevron Corporation, ChevronTexaco Corporation
- Sergei Mikhailov - Member of the Board of Directors, Deputy Director General of Capital Management Company
- Mark Mobius - Member of the Board of Directors, Executive Chairman of Templeton Emerging Markets Group
- Guglielmo Antonio Claudio Moscato - Member of the Board of Directors, Chairman and CEO of Gas Mediterraneo & Petrolio
- Ivan Pictet - Member of the Board of Directors, Member of the UN Investments Committee of the UN Joint Staff Pension Fund Board
- Alexander Shokhin - Member of the Board of Directors, President of the National Research University – Higher School of Economics.
Contact details
11 Sretensky Boulevard
Moscow, Russia, 101000
Tel: (+7 495) 627 4444
Fax: (+7 495) 625 7016
Telex: 612 553 LUK SU
Web: http://www.lukoil.com
Articles and Resources
Sources
SourceWatch resources
External links
- Rich Smith, "Lukoil Looks Abroad," The Motley Fool, January 16, 2004.
- Peter Gelling and Azi Paybarah, "Same Gas, Lower Prices," Queen's Tribune, June 17, 2005.
- Sean Seid, "Sen. Schumer Out Against Gas Price Gouging," The Epoch Times, September 5, 2005: "Senators Charles E. Schumer and Jon S. Corzine are calling for the Federal Trade Commission (FTC) to investigate possible gasoline price gouging on already high gasoline prices caused by Hurricane Katrina in the New York and New Jersey Metropolitan area. The two senators held a press conference at a Luk Oil gas station in Manhattan on Labor Day."
