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.
LUKOIL is engaged in trading operations in over 100 countries around the world via its subsidiary, LITASCO. LITASCO's key functions include maximizing the efficiency of sales of crude oil and petroleum products produced by the Group, as well as boosting profits through trading of purchased hydrocarbons.
To maximize the efficiency of its trading operations, LITASCO builds long-term relations with major refineries in the SouthEast Asia, the USA and other countries and supplies crude oil and petroleum products to LUKOIL Group's refineries in Italy, the Netherlands, Romania and Bulgaria. In 2016, crude oil and petroleum products produced by LUKOIL Group accounted for 40% of LITASCO's total trading volumes, while trading of third-party crude oil and petroleum products accounted for the remaining 60%.
In 2016, the Company continued to expand the geography of its trading operations with the biggest gains made in India, Nigeria, Iraq and Egypt.
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