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History

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For 25 years, LUKOIL has been one of the world’s leading companies for crude oil and gas production, and their refinement into petroleum products and petrochemicals. Every day millions of people all over the world buy our products, and use those products to improve the quality of their lives.

  • 1991 — LUKOIL oil industry group is created.

  • 1992 — Creation of authorized capital of the newly incorporated LUKoil joint-stock company, the Company  ranking among the top three global leaders in terms of oil production.

  • 1993 — Public Joint Stock Company “Oil Company “LUKOIL” Incorporated. The Company establishes the LUKOIL Charity Fund at the initiative of its management.

  • 1994 — organized share trading on secondary market commenced. Participation in the first international project in Azerbaijan. Inter-regional trade union organization created.

  • 1995 — Switching over to common corporate shares and geographic presence expansion. ARCO (USA) becomes JSC LUKOIL’s major shareholder and strategic partner.

  • 1996 — Participation in Shakh-Deniz international gas project. Offering American Depositary Receipts on the Company’s shares.

  • 1997 — First projects in Kazakhstan and Iraq. First offering at the MICE. LUKOIL Racing Team created.

  • 1998 — Acquiring first foreign downstream assets. LUKOIL Sports Club Created.

  • 1999 — Ukhta and Odessa refineries, Saratovorgsintez, Stavrolen, and Bugras refinery (Bulgaria) acquired.

  • 2000 — A new oil and gas province in the Caspian Sea discovered. Fortune Global 500 rating of the world’s top companies assigned. New generation engine oils produced. U.S. retail market of petroleum products entered.

  • 2001 — Certification for compliance with international safety standards. Acquisition of Nizhniy Novgorod refinery and production assets in Bolshekhetskaya Depression and Timan-Pechora.

  • 2002 — International expansion. Construction of Vysotsk terminal commenced. Russian President Vladimir Putin visited Astra floating drilling rig.

  • 2003 — Expansion of the sales network in Europe. Anaran, a major project in Iran. Russian President Vladimir Putin visited LUKOIL’s service station in New York.

  • 2004 — Strategic partnership with ConocoPhillips. Presence in Kazakhstan expanded. LUKOIL increases its gas assets in Uzbekistan. U.S. network of service stations expanded.

  • 2005 — V. Filanovskiy field discovered in the Caspian Sea. Finnish petroleum products market entered. Large-scale production of LUKOIL Euro-4 diesel fuel.

  • 2006 — Vysotsk shipping terminal commissioned. Joining African offshore projects. Acquisition of marketing assets in Europe.

  • 2007 — New projects in Western Africa. A major hydrocarbon accumulation in Saudi Arabia discovered. Fixed offshore ice-resistant shipping terminal in the Barents Sea installed.

  • 2008 — Power engineering assets acquired. Presence in Uzbekistan, Turkey, and Italy expanded. First bulk oil shipments from Varandey terminal. Operations at Southern Khylchuyu field in northern Timan-Pechora launched.

  • 2009 — Interest in a Dutch refinery acquired. LUKOIL becomes 100% owner of LUKARCO B.V.

  • 2010 — Winning Bid for West Qurna-2 field (Iraq). Oil reserves discovered in the Gulf of Guinea on Ghana’s shelf. Production commenced at Yu. Korchagin field in the Caspian Sea. Romanian projects joined.

  • 2011 — LUKOIL opens Russia’s first ever corporate training center to train offshore oil industry personnel. A 50% stake in a Vietnamese offshore project acquired. LUKOIL and Bashneft establish a joint venture. Renewables developed. Joining a Sierra Leone project and discovery on Cote d’Ivoire shelf.

  • 2012 — LUKOIL switches over to production of only EURO 5 gasolines. Service Station Network expanded in Western Europe. LUKOIL launches production of new generation engine oils. LUKOIL’s social and cultural projects contest won the award of the first National program entitled “Best Russian Social Projects”.

  • 2013 — LUKOIL expands its presence in Western Africa. Production commenced at R.Trebs and A.Titov fields in Nenets Autonomous Okrug. LUKOIL acquires a 100% stake in ISAB refinery. LUKOIL acquires OMV’s European lubricant business and new service station network in the Benelux states.

  • 2014 — LUKOIL starts oil production at West Qurna-2 field in Iraq. The mining and dressing facility was commissioned at V. Grib diamond deposit. Participation in Cameroonian offshore project. LUKOIL opens Russia’s first private football arena.

  • 2015 — Integration into the Russian wholesale energy market. World record in horizontal drilling. LUKOIL and the World Wildlife Fund (WWF) sign a cooperation agreement. Major offshore gas field discovered in Romania.

  • 2016 – LUKOIL celebrated its 25th anniversary. The Company started commercial production from 2 largest fields – V. Filanovsky in the Caspian and Pyakyakhinskoe in Yamal-Nenets Autonomous Area, completed Russian refineries' upgrade program. A new progressive dividend policy was approved. 

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