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Business Operation

THE GROUP’s BUSINESS MODEL

The vertically integrated business model of the Group established 25 years ago covers the whole range of activities: from geological exploration to sales of finished products to end-users. Over this time, the Company's model demonstrated resilience to the most extreme manifestations of market and financial instability. Despite the difficult time of hyperinflation and export restrictions from Russia in 1993—1994, default on the main types of government securities in 1998, the global economic recession of 2008—2009 and the commodity market crisis of 2014—2015, the Company was able to ensure many-fold increase of its capital assets, creating added value for shareholders and other stakeholders. 

Intra-group integration steps up competitive advantages and the Company's performance through the application of uniform corporate standards, environmental and social responsibility practices, and technology. Each value generation element in the global oil and gas markets is a chance for us to increase the available capital. The Group cares for the needs of the environment in which operates, taking responsibility for ensuring sustainable and progressive business development.

By producing energy resources, the Group contributes to economic development, creation of new jobs, investments, infrastructure development, and improves the quality of life for millions of consumers.
 Closed production cycle helps the LUKOIL Group minimize risks, reduce intersegment costs and reduce dependence on the external business environment.

The Company's activities can be divided into two major business segments:

  • Upstream.

  • Downstream.

Лукой_ЧемМыЗанимаемся_Блок_РазведкаДобыча.jpg

Exploration and production of oil and gas are the central pillar of the LUKOIL Group business and account for most of the Company's value. In the Upstream segment LUKOIL disposes of a high quality asset portfolio diversified both geographically and by the degree of depletion and type of deposits.

  • More details

Лукой_ЧемМыЗанимаемся_Блок_ПереработкаТорговля.jpg

Exploration and production of oil and gas are the central pillar of the LUKOIL Group business and account for most of the Company's value. In the Upstream segment LUKOIL disposes of a high quality asset portfolio diversified both geographically and by the degree of depletion and type of deposits.

  • More details

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