11 Sretensky Boulevard, Moscow 101000
Tel.: +7 (495) 928 98 41
Fax: +7 (495) 916 00 20
Telex: 612 553 LUK SU
http://www.lukoil.com

Chairman: Valery Grayfer (General Director of OAO "RITEK")

Board of directors:
Vagit Alekperov,  President of LUKOIL
Mikhail Berezhnoi, General Director of the Non-Profit Oganization LUKOIL-GRANT Non-State Pension Fund
Oleg Kutafin, Rector of the Moscow State Law Academy
Ravil Maganov, First Vice-President for Exploration and Production, Lukoil
Richard H. Matzke, Vice-Chairman of the Board of Directors, Chevron Corporation
Kevin Meyers, President of Russia/Caspian Region, ConocoPhillips
Sergei Mikhailov, Chairman of the Board of Directors, Upravlyaushaya Kompaniya Management Center
Nikolai Tsvetkov, Chairman of the Management Committee, NIKoil Investment Banking Group
Igor Sherkunov, Chairman of the Board of Directors, Capital Investment Group
Alexander Shokhin, President of the Higher School of Economics

News

In July '07 Vagit Alekperov acquired an additional 18.349m Lukoil shares (2.16% of the total) for $1.4bn, or $76.35 per share, the prevailing market price. Most of this stake came from Nikolai Tsvetkov (a member of LUKoil's BoD and UralSib Bank's supervisory board), who sold 16.149m shares for $1.23bn. Both transactions took place on July 2 (Interfax).

(07/25/06): Hydrocarbon output grew 11.9 percent in the first half of 2006 compared with the same period last year, as the country's largest oil producer brought new projects on line. First-half crude output rose 5.6% to 1.9 million barrels per day. Natural gas production soared 265% to 5.1 billion cubic meters, after LUKoil brought its Nakhodkinskoye field on line last year. 

Ownership Structure (June 30th 2006)

Trade Letters: Shares: LKOH; ADRs: LSE: LKOD; FSE: LUK; US OTC: LUKOY

Direct Shares/ADRs

Revenues: .

For fiscal year 2004, Lukoil's net income amounted to $ 4,248 million, compared with $ 3,701 for fiscal year 2003

Percentage of market share: The company controls around 1.3% of global oil reserves and 2.1% of global oil production. LUKOIL dominates the Russian energy sector, with 18% of total Russian oil production and 18% of total Russian oil refining.

Countries/Regions: Lukoil owns significant oil refining capacity both in Russia and abroad. In Russia, the company owns four large refineries at Perm, Volgograd, Ukhta and Nizhny Novgorod. The total capacity of Lukoil's facilities in Russia is 41.8 mln tons of oil per year. Lukoil also has refineries in Ukraine, Bulgaria, and Romania, with total capacity of 16.7 mln tons per year.

By the end of 2004, Lukoil's sales network covered 17 countries, including Russia, the CIS (Azerbaijan, Belarus, Georgia, Moldova, Ukraine), Europe (Bulgaria, Hungary, Cyprus, Latvia, Lithuania, Poland, Serbia, Romania, Czech Republic, Estonia) as well as the United States, and consisted of 199 tank farms and 5,405 filling stations. Within Russia, Lukoil's sales network consisted of 10 marketing entities operating in 59 Russian regions.

Major projects: The company is developing a new production base in Timan-Pechora, where its crude oil output has increased by more than 1.6 times in 5 years.  Lukoil is currently carrying out international exploration and production projects in Kazakhstan, Egypt, Azerbaijan, Uzbekistan, Saudi Arabia, Iran, Columbia, Venezuela and Iraq.

Subsidiaries:
Oil and Gas Production: Cabre Exploration Cyprus Ltd., Kappa Energy (Yemen) Inc., LUKoil Mid-East Operational (Partnership), LUKOIL Overseas (B.V.I.) ltd., LUKOIL Overseas Algeria Ltd., LUKOIL Overseas Anaran Ltd., LUKOIL Overseas Apsheron Ltd., LUKOIL Overseas Colombia Ltd., LUKOIL Overseas Karachaganak B.V., LUKOIL Overseas Libya Ltd., LUKOIL Overseas Onshore Company Ltd., LUKOIL Overseas Riyadh Ltd., LUKOIL Overseas Shah Deniz Ltd., LUKOIL Overseas Shelf B.V., LUKOIL Overseas Uzbekistan Ltd., LUKOIL Saudi Arabia Energy Limited, Overseas Operating Company Ltd., OOO Аksаitоvnеft, OAO ARKHANGELSKGEOLDOBYCHA, OAO Bitran, OOO Bovel, OOO INZ, OOO К. N. Holding, OAO KogalymNefteProgress, ZAO Kolvageoldobycha, ZAO KomiArktikOil, OAO Komineft, ZAO LUKOIL-АIK, OOO LUKOIL-Zapadnaya Sibir, OOO LUKOIL-Zapolyarneft, OOO LUKOIL-KALINNGRADMORNEFT, OOO LUKOIL-Komi, OOO LUKOIL-Nizhnevolzhskneft, OOO LUKOIL-Perm, OOO LUKOIL-Sever, ZAO Neftyanaya kompaniya KomiTek, OOO Neftyanaya holdingovaya kompaniya, OOO RITEKSamaraneft, OOO Tulvaneft, OAO Tebukneft, OOO UralOil, OAO Ukhtaneft, OOO Shaimgeoneft, OAO Yaregskaya nefte-titanovaya kompaniya

Petrochemicals:  ZAO LUKOIL- Neftekhim, ZAO LUKOR, OOO Saratovorgsintez, Karpatnaftohim

Oil and Gas Refining: LUKOIL Neftochim Bourgas AD, SC Petrotel LUKOIL SA, OAO Lokosovsky gazopererabatyvayushchii kompleks, OOO LUKOIL-Volgogradneftepererabotka, OAO LUKOIL-Nizhegorodnefteorgsintez, OAO LUKOIL-Odessky neftepererabatyvayushchy zavod (Odessa Refinery)
OOO LUKOIL-Permnefteorgsintez, OAO LUKOIL-Usinsky Gazopererabatyvayushchy Zavod, OAO LUKOIL-Ukhtaneftepererabotka, OOO Permneftegazpererabotka

Petroleum Products Marketing: Beopetrol Hellas L.T.D., LUKOIL MACEDONIA LTD Skopje, LUKoil-Moldova SRL, Kingston Oil Supply Corp.,
LBS Limited, LITASCO ROMANIA S.R.L., Litasco S.A., LUKOIL Baltija LLC. UAB LUKOIL Baltija Servisas, UAB LUKOIL Baltija, LUKOIL Black Sea Romania S.R.L., EOOD LUKOIL Bulgaria, LUKOIL Chemical Trading N.V., LUKOIL d.o.o. Belgrad, LUKOIL Eesti AS, LUKOIL EURASIA PETROL ANONIM SIRKETI, LUKOIL Europe Limited, LUKOIL Europe Trading Limited, LUKOIL Finland Oy, LUKOIL Hamburg GmbH, LUKOIL Hungary Kft., LUKOIL Petroleum Ltd., LUKOIL Polska Sp z.o.o., SIA LUKOIL-Baltija R, LUKSTAR Company Limited, MV Properties S.R.L., Nekom Kft., Oy Teboil Ab, Petro USA Inc., BEOPETROL-PRISTINA, LUKOIL-BEOPETROL AD, S.C. LUKOIL Downstream S.R.L., STAVROCHEM Ltd, Suomen Petrooli Oy, ZAO Druzhba, Inostrannoe predproyatie "LITASKO-Belorussiya"
ZAO Complex AZS-M, LITASKO Ukraina, OOO LUK-Avia Oil, OOO LUKOIL-Baltik Bunker, АОZТ LUKOIL-Azerbaidzhan, OOO LUKOIL-AERO, OAO LUKOIL-Vladimirnefteprodukt, OAO LUKOIL-Volganefteprodukt, OOO LUKOIL-Volganefteprodukt, ZAO LUKOIL-Gatchina, OOO LUKoil-Georgia, OOO LUKOIL-Kiev
OOO LUKOIL-Lipetsk, OOO LUKOIL-NEVA, OAO LUKOIL-Nizhegorodhefteprodukt, OOO LUKOIL-Nizhnevolzhsknefteprodukt, OOO LUKOIL-Permnefteprodukt, OOO LUKOIL-Primor'e, OOO LUKOIL-RESURS, ZAO LUKOIL-Samara, OOO LUKOIL-Saint-Petersburg Trade, OOO LUKOIL-Severnefteprodukt, OOO LUKOIL-Severo-Zapadnefteprodukt, ZAO LUKOIL-Tula, OOO LUKOIL-Uralnefteprodukt, OOO LUKOIL-Holding-Service
OOO LUKOIL-Tsentrnefteprodukt, OOO LUKOIL-Yugnefteprodukt, OOO LUKOIL-Yugra, AO Mtskhetskiy nefteprodukt, АО NK Treider, ZAO Neftyanik
ZAO Predpriyatie s inostrannymi investitsiyami "LUKOIL-Ukraina", LUKOIL-Sochi, ZAO SAMARAOIL i K, OOO ZP LUKoil-Kyrgyzstan, OOO Toplivnaya gruppa LUKOIL-AERO, ZAO TZK NORSI-AVIA

Services and other:  Acont Enterprises Ltd., BLUE WAVE SHIPPING LIMITED, Eiger Shipping Limited, FORTIS SHIPPING LIMITED, Gasway, Inc, Getty Terminals Corp., Green Wave Shipping Ltd., K&S Baltic Offshore (Cyprus) Ltd., K&S Tanker AB, Kiinteisto Oy Kirkkonummen Tahti, Kiinteisto Oy Nurmijarven Kiikennepalvelukeskus, Kiinteisto Oy Vaalimaan Rajahovi, Komilux S.A. Holding, L-Avia Invest Ltd., LF Technologies Ltd., EOOD LITASCO Bulgaria, LUKAgip N.V., LUKAgip Midstream B.V., LUK-Avia, Inс, LUKOIL Americas Corporation, LUKoil Americas Headquaters L.L.C., LUKoil Americas Holding Ltd., LUKOIL AMERICAS L.L.C., LUKOIL AS S.R.L., LUKOIL ASIA PACIFIC PTE Ltd., LUKOIL Benelux B.V., LUKOIL Bunker Ltd., LUKOIL Cayman Trading Limited, LUKOIL CHEMICAL B.V., LUKOIL Cyprus Ltd., LUKOIL DWD, LUKOIL Drilling Ltd., LUKOIL Employee Ltd., LUKOIL Europe Holdings B.V., LUKOIL Holding AG, LUKOIL INTERNATIONAL GmbH, LUKoil International Invest (BVI) Limited, LUKOIL Khazar Ltd, LUKoil Mid-East Limited, LUKOIL Overseas Atash B.V., LUKOIL Overseas Baltic Ltd., LUKOIL Overseas Canada Ltd., LUKOIL Overseas Caspian Development Ltd., LUKOIL Overseas Chirag Finance Ltd., LUKOIL Overseas Cyprus Limited, LUKOIL Overseas Egypt Ltd., LUKOIL Overseas Investholding Ltd., LUKOIL Overseas Kumkol B.V., LUKOIL Overseas Orient Ltd., LUKOIL Overseas Personnel Ltd., LUKOIL Overseas Secondment Ltd., LUKOIL Overseas Service Group Ltd., LUKOIL Overseas Service Ltd., LUKOIL Overseas Shah Deniz Midstream Ltd., LUKOIL Overseas Supply & Services B.V., LUKOIL Overseas U.K. Ltd., LUKOIL Technology Services Beograd d.o.o., LUKOIL Technology Services Bulgaria Ltd., LUKOIL Technology Services GmbH, LUKOIL Technology Services Romania S.R.L., LUKOIL Overseas Venezuela B.V., LUKOIL Overseas Yalama Ltd., LUKOIL Pan Americas, L.L.C., EAD LUKOIL Petrol, LUKoil Racing Services Limited, LUKOIL S.A., LUKOIL Shelf Ltd., LUKOIL Tankstorage B.V., LUKOIL USA, Inc, LUK-Sintez Oil Limited, UAB Mazeikiu Autotransporto Ukis, OOD NEFTOIMPEKS, Panoil Supply Co. Limited, AD POD LUKOIL GARANT-BULGARIA, Power Trade Ltd., PT Petro Corp., S.T.R., EOOD Stolovo chranenie - Lukoil Neftochim Bourgas, Syuomen Tahtihovit Oy, OOD Tangra, SIA VARS, OOO Aviastroiservis, OAO ATP-1, OAO ATP-2, OOO Avtotrans-Service, OOO AGD-Service, OOO Agentstvo LUKOM-A-Ukraina, ZAO Arkhangelskgeolrazvedka, ZAO Baltkhimexport, ZAO Bobrovo-2,OAO Varandei terminal, OOO Viliya, OOO DK Tsaritsyn, OOO Donbunker, OOO Doros, DOAO Forvard, ZAO DP OZONIG-Service, OOO Erna, OAO Zheldorservis, IP LUKOIL-Belarus, , ZAO KMV-Plastik,ZAO KOGALYM TO-KO TELECOM, OOO KogalymNIPIneft, OAO Krasnokamskoye UTT, OAO LK-TRANS-AVTO, OOO LUKOIL Pacific Bunker, OOO LUKOIL PERSONNEL, OOO LUKOIL Uzbekistan Operating Company Ltd., ZAO LUKOIL EPU Service, ZAO LUKOIL-AVIA, OOO LUKOIL-VolgogradNIPImorneft, ZAO LUKOIL-INFORM, OOO LUKOIL-Naftokhim, OOO LUKOIL-Nefteavtomatika, ZAO LUKOIL-OZONIG, OAO LUKOIL-Rostovneftekhimproekt, ZAO LUKOIL-Chernomorye, OOO LUKOIL-Energogaz, OOO LUKOM-Service, OOO LUK-Sint, OOO Landmark-Garant, ZAO Morskoe Agentstvo Novotorik, OOO NITs NK LUKOIL, OAO Nizhegorodniinefteproyekt, OAO OZNGM, ZAO OMEGA-TRANS, ZAO Pansionat Yantarny, OOO Pegasavto, OOO Permnefteinvest, OOO PermNIPIneft, OAO  PTP, ZAO Petrolsib, OOO Petrolsib-Service, OOO LUKOIL-BK, OOO Profi-key, OAO RPK-Vysotsk-LUKOIL-II, ZAO RITEK-Trading, OOO RITEK-ITTs, ZAO RITEKKubanneftemash, OOO RITEKneftekomplekt, ZAO RITEK-Polisil, OOO RITEK-ENPTs, OOO RN-KNO, OOO SAMAL INTERNATIONAL, OOO evAvtodor, OOO SMU Naryan-Marstroiservis, OAO SPP, OOO Status-S, OOO SP "Neftestroi", OOO SK Pechora, OAO TZK Roshchino-GSM, ChUP LUKOIL-servis, OOO TD Energoservis, ZAO LUKoil-Trans, ZAO Trans-Stroy, OAO Uraltrubmash, OOO UTTU, OOO Agentstvo LUKOM-A-Nizhny Novgorod, OOO Agentstvo LUKOM-A-Perm, OOO Agentstvo LUKOM-A-St. Petersburg, OOO Agentstvo LUKOM-A-Saratov, OOO Agentstvo LUKOM-A-Usinsk, OOOAgentstvo LUKOM-A-Ukhta, OOO Agentstvo LUKOM-A-Kaliningrad, OOO Agentstvo LUKOM-A-Naryan-Mar, OOO Agentstvo LUKOM-A, OOO Agentstvo LUKOM-A-Astrakhan, OOO Agentstvo LUKOM-A-Volgograd, OOO Agentstvo LUKOM-A-Yug, ZAO ChTOEZ, OOO Chernomorskaya Servisnaya Kompaniya, OOO Chernushinskoye UTT, OOO YuNIT-KOMPLEX, OOO Yunost, OOO YuRALS-Stroimontazh

Financial activity: Bitech Cyprus Ltd., Broom Finance Corp., Kappa Energy International Inc., LUKINTER Finance B.V., LUKoil Accounting and Finance Limited, LUKOIL Energy Denmark Aps, LUKOIL Energy Gmbh, LUKOIL Finance Ltd., LUKOIL Finance Services S.A., LUKoil Finance USA, LUKOIL Financial Services Limited, LUKOIL International Finance B.V., LUKOIL Invest Austria AG, LUKOIL Overseas Antilles Ltd., LUKOIL Overseas Development Ltd., LUKOIL Overseas Holding Ltd., LUKOIL Overseas Netherlands B.V., LUKOIL Overseas Projectholding Ltd., LUKOIL Overseas West Project Ltd., LUKOIL STOPLAN LTD., SLB Invest Limited

Banking: SLB Commercial Bank

History: By Resolution 18 of the Council of Ministers of the USSR on November 25, 1991, a state-owned oil concern "LangepasUraiKogalymneft" was set up. It united on a voluntary basis three oil-producing enterprises - "Langepasneftegaz," "Uraineftegaz," and "Kogalymneftegaz," and three processing enterprises - "Permorgsintez," and the Volgograd and Novoufimsk refineries.

In compliance with the Decree No.1403 dated November 17, 1992 of the President of the Russian Federation entitlted "On Particular Features of Privatization and Transformation of State-Owned Enterprises, Production and Research Associations of Petroleum, Oil Refining Industries and Petroleum Product Supply Agencies into Joint Stock Companies" an open joint stock company "OAO "LUKOIL" Oil Company" was founded by a Resolution of the Government of the Russian Federation on April 5, 1993. The authorized capital stock was endowed with controlling interests of producing, processing and marketing companies. A Consolidated Privatization Plan was approved and first issue of LUKOIL shares was registered.

In 1995 in compliance the company was given controlling interests in nine oil-producing, distribution and service companies located in Western Siberia, the Urals and the Volga region. Stable growth of oil production and oil refining in the traditional regions of the company's operations continued to grow. American Atlantic Richfield Company (ARCO) became a major shareholder and a strategic partner of Lukoil.

In 1996, the company became a participant in the development of a number of promising oil and gas fields in Kazakhstan and Azerbaijan. A major program aimed at construction of its own tanker fleet was launched. Lukoil became one of the first Russian companies to put ADRs on the international stock market.

In 1997, consolidation of shares in Lukoil subsidiaries was completed by exchanging the shares of the subsidiaries for the company's shares. The company successfully placed $580 million of convertible bonds on international stock markets.

In 1998, the company acquired Petrotel Refinery (Romania) and Stavropolpolimer (Russia).

In 1999, the company acquired KomiTEK (Russia), the Odessa Refinery (Ukraine), the Saratov Petrochemical Complex (Russia) and Neftokhim (Bulgaria).

In 2000 a new oilfield was discovered at the "Severny" block of the Northern Caspian.

In January 2006, Lukoil discovered a major oil and gas field in the Russian section of the Caspian sea, the Filanovsky field, giving the company the largest oil reserves of any company in the world.

The Near and Far 'Abroad':
LUKOIL is also known as a Russian leader in tapping foreign retail markets. The oil major owns approximately 3,700 gasoline stations in 17 countries, including in the CIS, the Baltic countries, Eastern Europe (Poland, Bulgaria, Hungary, Serbia, Romania, the Czech Republic and Cyprus) and the United States. LUKOIL’s largest gasoline station network is in the United States, where the company owns about 2,000 stations under the LUKOIL, Mobil and Getty brands.

The LUKOIL Group today comprises three oil refineries abroad: in Bulgaria, Romania and Ukraine.

Bulgaria: LUKOIL Neftochim Burgas refinery located on the Black Sea Coast processes Urals oil, Russia’s benchmark export blend and fuel oil from the Odessky refinery. Built in 1964, LUKOIL acquired it 1998. Oil arrives at the plant by pipeline from the port of Rosenets. Ready-made products move by rail, sea and road transport, as well as via the Burgas-Sofia and Burgas-Varna oil product pipelines. The refinery has an annual processing capacity of 10.5 million tons. Nelson’s composite index is 8.0. Since 2003, the plant has fully switched to production of high-octane clear grades of gasoline and boosted production of diesel fuel with sulfur content of no more than 0.035 percent. Since 2005, the plant has begun producing motor gasoline and diesel fuel with sulfur content of no more than 50 parts per million.

Romania: The AO Petrotel-LUKOIL refinery, located in Ploesti, 55 kilometers from Bucharest opened in 1927 but was acquired by LUKOIL in 1999. The plant processes Urals crude. Oil flows to the plant by oil pipeline from the port of Constantsa on the Black Sea and by rail. The refinery has an annual processing capacity of 2.4 million tons. Nelson’s composite index is 9.9 (the highest indicator among all the oil refineries of group LUKOIL). Since 2004, the plant has been producing European-specification AI-95 and AI-98 gasoline matching the Euro-4 standard.

Ukraine: OAO LUKOIL-Odessky Oil Refinery, near Odessa, began operations in 1937, with LUKOIL acquiring the plant in 2000. Capacity is 3.9 million tons per year. Nelson’s composite index is 3.2. The plant does not have conversion processes. Treatment processes include reforming, hydro-refining of diesel fuel, and isomerization. Since 2004, the share of high-octane grades of gasoline has accounted for more than 80 percent in the overall motor gasoline production volume.

Last updated November 30th 2006