LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally.
The Community Trademark Court of Spain, located in Alicante, confirmed the exclusive rights of OAO “LUKOIL” to use its trademark LUKOIL OIL COMPANY in all the countries of the European Community.
Vagit Alekperov, LUKOIL President, and Igor Levitin, Transport Minister of the Russian Federation, signed an Agreement of Understanding and Intent between the Russian Transport Ministry and the Company in Moscow today.
LUKOIL and ConocoPhillips finalized on June 30, 2005, the creation of the OOO Naryanmarneftegaz joint venture to develop resources in the northwest Arctic Russia.ConocoPhillips has a 30 percent interest in the joint venture. The amount of the transaction involving acquisition of this interest is approximately US$500 million. The companies will govern the joint venture 50/50.
On June 29, 2005, in Belgrade, Dmitry Tarasov, First Vice-President of LUKOIL, and Zeljko Popovic, Director General of the Oil Industry of Serbia (NIS), signed Memorandum of Intentions for creation of a joint venture.
LUKOIL published today consolidated U.S. GAAP financial accounts for the first quarter, ended March 31, 2005.
General Shareholders Meeting of OAO LUKOIL was held in Moscow today to approve the Annual Report of the Company for the year 2004 and the Accounting Report for the past fiscal year.
Final competitions of the Third International Spartakiada Games of OAO LUKOIL were held in Kaliningrad under the motto: For physical and moral health of the nation.
The Management of LUKOIL has approved the Company’s Policy regulating the estimation of oil, gas and condensate proven reserves. The Policy fully meets the international standards.
The Management of LUKOIL resolved to restructure the Company’s Russia-located dealership network engaged in its packaged oils retailing. The restructuring is supposed to boost the sales and improve the motor oils distribution.
LUKOIL is the first Russian oil company to have commenced a large-scale production of low sulfur environment friendly diesel fuel (LUKOIL EURO-4) and launched it to the market. The fuel meets the European environment requirements for EN-590:2004 (Euro-4) diesel fuel.
