Press releases

Today, the Management Committee of OAO LUKOIL decided to sell shares held by its group companies in OAO Bank Petrocommerce which in aggregate constitute over 80% of its charter capital.

Today in Kstovo (Nizhegorodskaya region) at OAO “LUKOIL-Nizhegorodnefteorgsintez” the LF-35/21-1000 permanent catalyst regeneration catalytic reformer was officially put into operation.

The first joint technical committee meeting between LUKOIL and the Ministry of Petroleum of Iraq regarding cooperation in Iraqi oil and gas industry was held today in Moscow.

The LUKOIL Management Committee resolved to sell a 38% share owned by OAO LUKOIL in ZAO LUKOIL-Neftegazstroy to the managers of LUKOIL-Neftegazstroy today.

Today in Tashkent, Deputy Prime-Minister of the Republic of Uzbekistan Utkir Sultanov, Chairman of the National Holding Company Uzbekneftegaz Abdusalom Azizov and President of OAO LUKOIL Vagit Alekperov signed a Production Sharing Agreement (“PSA”) on the Kandym-Khausak-Shady project, calling for production of natural gas in the Bukharo-Khivinsky Region in the south-west of the country.

Official data of the London Stock Exchange (LSE) show a new record for LUKOIL share trading volumes in May 2004, when trading in ADRs on Company shares totaled US$ 2.41 billion.

The inauguration ceremony of Phase-I of a transshipment and offloading complex (“Complex”) was held today in the framework of the 8-th Saint-Petersburg Economic Forum in the city of Vysotsk, Leningrad region, today. The Complex, named LUKOIL–II, is designed for oil products export.

Today Vagit Alekperov, President of OAO LUKOIL, delivered a speech at the 11th plenary session of the Foreign Investors Council chaired by Nursultan Nazarbayev, President of Kazakhstan.

An official delegation from LUKOIL attended the 11th International Caspian Oil and Gas Exhibition and Conference in Baku scheduled for June1-4, 2004. At the opening ceremony, President Ilkham Aliyev of Azerbaijan visited LUKOIL’s exhibition booth.