Press releases

LUKOIL net income reached $10,765 million in the first nine months of 2008, which is an increase of 70.9% y-o-y. EBITDA was $16,652 million, which is 60.6% higher y-o-y. Revenue from sales rose by 56.3%, to $89,265 million.

LUKOIL won the annual contest “For Active Information Disclosure Corporate Policy” held by Interfax and AK&M, authorized agencies of the Federal Financial Markets Service.

In process of construction of the second stage the capacity of the oil treatment unit was increased by 3.8 million tons a year, a high-pressure compressor station and sulfur disposal and storage facilities were built.

Vladimir Nekrasov, First Vice President of OAO LUKOIL, Exequiel O. Espinosa, President of the Company ENERGÍA ARGENTINA S.A. (‘ENARSA’), and Horacio Gabriel Sambucetti, President of the Company POBATER S.A., signed a Memorandum of Understanding between the Companies in Moscow today.

Vagit Alekperov, President of OAO LUKOIL, and Alexander Filipenko, Governor and Chairman of the Government of the Khanty-Mansi Autonomous District-Yugra, signed a supplement to the cooperation agreement between the Company and the Autonomous District in Khanty-Mansiysk today.

The OAO LUKOIL Press Service would like to warn all concerned parties that the website of ОАО Evrazoil, at http://www.evrazoil.com, contains information which may mislead potential partners of that company.

OAO LUKOIL management and all employees of the Company would like to extend their heartfelt condolences to the family of Oleg Emelyanovich Kutafin, who passed away on December 4, 2008.

The Program is aimed at improving the environmental management system and minimizing the negative environmental impact caused by the Company’s operations.

The Program is aimed at providing LUKOIL Group organizations with efficient insurance coverage against various risks which might pose threat to the Company’s operations, the welfare and wellbeing of the employees, as well as to the property interests of the Company's shareholders and investors.