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Stakeholder Engagement

The successful implementation of our strategic goals is facilitated by a relationship of trust with stakeholders, including customers, employees and trade unions, state legislative and executive authorities, shareholders and investors, business partners (suppliers and contractors), and society as a whole.

We strive to build long-term constructive relations based on the principles of partnership, Company participation in implementing long-term development goals, transparency of operations, and information. 

These principles are set forth in the Social Code of PJSC LUKOIL, the Code of Business Conduct and Ethics of PJSC LUKOIL, and the Health, Safety and Environment Policy of LUKOIL Group In the 21st Century. The corporate website, the Annual Report, and the Sustainability Report are the main channels of information for stakeholders on the Company's business.

 

STAKEHOLDER CATEGORYENGAGEMENT PRINCIPLE

Our clients comprise large and medium-sized entities operating in various sectors of the economy and private individuals. We provide our clients with high-quality products and services, and develop innovative products tailored to the needs of regional markets and the individual needs of consumers. LUKOIL applies a responsible approach to customer relations and observes the principles of fair marketing and sales of products.
The Company's priorities include a focus on consumer expectations, developing and marketing new products with enhanced operational and environmental qualities, and the continual improvement of high-quality management methods.
LUKOIL Group operates a quality management system covering all the stages a product passes through when moving from the factory to the consumer.


LUKOIL's supply chain covers entities of various legal forms and sizes, from large companies and small and medium-sized businesses to individual and social entrepreneurs. The Company  is open to cooperation and provide a level playing field, and performs impartial and effective selection of suppliers and contractors through tender procedures in key areas of the Company's business.


Social partnership is at the core of LUKOIL Group's relations with employees and trade unions. The Company has built a social partnership system based on agreements between employer, trade unions and employees.

The key social partner of the Company is the International Association of Trade Union Organizations of PJSC LUKOIL.

Trade union organizations process queries from employees in order to study their opinions of labor rights' observance.

Meetings of employees and representatives of the management of PJSC LUKOIL and LUKOIL Group entities are held regularly.

For many years, LUKOIL has been collaborating with the International Labor Organization (ILO) and IndustriALL Global Union.


LUKOIL investors comprise Russian and foreign organizations and individuals pursuing various investment strategies.

To strengthen investor relations and raise the investment appeal, the Company communicates its equity story to financial market players, including disclosure of requested information and targeted measures. In order to attract additional investment in the Company's equity, a shareholder analysis is conducted on an ongoing basis, and group of investors are identified with whom targeted measures will be carried out. We continually strive to raise the level of information transparency, regularly provide information to representatives of the investment and financial communities using various channels, and react promptly to incoming queries.


LUKOIL  interacts with state legislative and executive authorities of all levels in Russia and with local authorities in foreign countries.

Experts from PJSC LUKOIL and LUKOIL Group entities take part on an ongoing basis in discussing legislative initiatives and in the work of advisory groups and expert forums, discussing issues that are topical for the Russian oil and gas industry.

Interaction with regulatory authorities is performed on an ongoing basis, legislative activity is being monitored.


We build our relations with society based on the principles of openness and partnership. Social investment programs are implemented in constant contact with local authorities, mass media, and municipal and public organizations. Significant focus is placed on interaction with the environmental community and residents of the regions and countries in which we work on questions of environmental protection and social issues.

LUKOIL annually supports a solid number of social projects, assists in solving economic problems in local communities, and promotes the development of culture, sport, science, education, ecology, and healthy lifestyles in the region of operation and abroad.

LUKOIL is also a participant, organizer and sponsor of forums, specialized conferences, roundtables and other events where the Company can interact with other industry players and stakeholder groups noted above on a wide range of topics.