Press releases

OAO LUKOIL Press Service announces that Nikolay Nikolaev, General Director of OOO “LUKOIL-Nizhnevolzhskneft”, has been appointed General Director of OOO “LUKOIL-Volgogradneftegaz”, whose duties he previously combined.

The OAO LUKOIL Management Committee reviewed the work progress stipulated by the Integrated Action Plan for 2007-2008 aimed at implementation of the Corporate Production Planning Concept based on the provisions of the Kyoto Protocol.

LUKOIL will officially release financial results for the forth quarter and full year 2008 on April 7, 2009. Due to the crisis and extreme volatility in currency and commodities markets during the period, the results will include some impairments and non-routine charges.

In his speech Mr. Alekperov, among other things, pointed out that the current energy market is not efficient enough. Over the recent years due to a tremendous growth of financial instruments trade, the oil price dynamics no longer reflects the actual supply/demand balance.

The amendments to the Policy were necessitated by new environmental activities of the Company, most of which are voluntary (the “zero discharge” principle for offshore field development, manufacture of eco-friendly fuels compliant with the European standards and implementation of the provisions of the Kyoto Protocol aimed at reducing greenhouse gas emissions). The changes also came as a result of adopting new measures aimed at enhancing the Company’s energy efficiency.