Entity

LUKOIL (PJSC LUKOIL) is one of the world's largest publicly traded vertically integrated oil and gas companies headquartered in Moscow, Russia. The company accounts for approximately 2% of global oil production and holds around 1% of the world's proven hydrocarbon reserves. LUKOIL was established in 1991 as an oil industry state concern, consolidating three Western Siberian oil producers—Langepasneftegaz, Uraineftegaz, and Kogalymneftegaz. 

Upstream Activities: LUKOIL explores and produces crude oil and natural gas with a production capacity of approximately 2.2 million barrels of oil equivalent per day. As of 2024, the company held 14.7 billion barrels of oil equivalent in proven hydrocarbon reserves, with 75% consisting of liquid hydrocarbons and 25% natural gas. Russia accounts for 91% of these reserves, primarily concentrated in Western Siberia, with the company's reserve life estimated at 18 years. The company represents the second-largest crude oil producer in Russia, accounting for approximately 15-19% of the nation's total oil production.

Refining and Processing: LUKOIL operates an extensive refining network with facilities across Russia and Eastern Europe. The company owns four major refineries in Russia—located in Perm, Volgograd, Nizhny Novgorod, and Ukhta—along with two mini-refineries. International refining assets include the Neftohim Burgas refinery in Bulgaria (with a capacity of 190,000 barrels per day, making it the largest in the Balkans) and the Petrotel-Lukoil refinery in Romania (2.4 million tonnes per year capacity). The company also holds a 45% stake in a Dutch refinery. Total refining throughput reaches 54.3 million tonnes annually.

Downstream Distribution: The company maintains a substantial retail and wholesale distribution network, selling petroleum products in over 100 countries globally. LUKOIL operates filling stations across 19 countries, along with bunkering infrastructure and air refueling complexes.

Power Generation: LUKOIL entered the power generation sector in 2008 as part of its strategic diversification. The company possesses aggregate power generation capacity of 5,800 megawatts, with 73% designated for commercial use, operating facilities across Russia, Bulgaria, Romania, and Ukraine.

Petrochemicals: Through its subsidiary Lukoil-Neftekhim, the company operates petrochemical plants producing alkenes and acrylonitrile, making it the largest producer of these materials in Eastern Europe.