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.
LUKOIL securities trading volumes on the London Stock Exchange totaled $2.66 billion in April 2005 being the highest since the launch of the LUKOIL securities on the LSE in 2002.
Lukoil today announces that, effective May 4, 2005, it will change the current ratio on the American Depositary Receipt (ADR) programs for the Company from one American Depositary Share (ADS) representing four ordinary shares of the Company to one ADS representing one ordinary share of the Company.
Moody’s Investors Service upgraded the senior implied rating of OAO LUKOIL to Ba1 from Ba2 on April 26. At the same time, the rating agency upgraded LUKOIL’s senior unsecured issuer rating from Ba3 to Ba2. All ratings have a stable outlook.
Vagit Alekperov, President of LUKOIL, handed over an 11,100,000-ruble check to Valery Serdyukov, Governor of Leningrad region, today. The funds will be used to purchase equipment for medical institutions.
It was resolved that the AGM will be held on June 28, 2005 at LUKOIL headquarters in Moscow. The 12th of May shall be the date when the list of LUKOIL shareholders attending the AGM is finalized.
Today LUKOIL Europe Holdings B.V. (100% subsidiary of LUKOIL) announced a public tender to purchase 913,695 (6.75%) shares of LUKOIL Neftokhim Burgas AD (Bulgarian refinery) from minority shareholders. Conditions of the tender received approval by the Bulgarian Commission for Financial Control.
In the first quarter of 2005 LUKOIL Group (subsidiary companies and LUKOIL’s share in output of affiliated companies, forming the Company’s consolidated financial results) total hydrocarbon production reached 1.9 mln boe per day, up 5.3% y-o-y.
A commissioning ceremony of the Nakhodkinskoye field Cenomanian gas deposit took place today in the Yamalo-Nenetsky Autonomous District. License for the field development is held by LUKOIL-Western Siberia (100% subsidiary of LUKOIL).
OAO LUKOIL has completed an evaluation and independent audit of its oil and gas reserves as at January 1, 2005. In terms of proved oil and gas reserves the Company continues to hold leading positions in the world: it is ranked first among Russian oil companies and second among international oil and gas majors.
Vladimir Rakitsky, LUKOIL’s Head of Oil Refining and Petrochemicals, spoke at “Alternative Energy Sources for Vehicles and Energy Consuming Sector in Big Cities” international conference in Moscow today.
