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Trading

Since 2000 all of the supply and trading transactions were transfered to LITASCO (LUKOIL International Trading and Supply Company), a single operator, which simplified export plans, optimized export flows and ensured oil and petroleum product export transparency. Higher profitability of trading operations is achieved through optimization of the supply chain management system and increase of the trading volume with third parties.

Northwestern Europe, as well as the countries of the Black Sea Basin and the Mediterranean region have traditionally been the Company's key markets. In addition to its key markets, the Company is penetrating new markets in Central America, China and the Middle East. The Company is expanding its presence in the oil producing regions of West, Sub-Saharan and South Africa, and implementing projects in Central America and Colombia.

One of the Company's key goals is to further promote oil sales from the Iraqi West Qurna-2 field under development. To be able to most efficiently place this oil, long-term partnerships are now being established with major refineries in Southeast Asia, the USA and other countries. Also, the Company supplies this oil to its in-house ISAB refineries in Sicily.

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