Lukoil Company News

Recent Articles

Results 50 articles shown

Lukoil to Operate Offshore Mexico Project
Lukoil will become operator with a $435 million holding company acquisition.
8:00 PM EST | July 05, 2021
Oil Drilling in Russia Could Fall 20% Next Year
Russia's producers, which have reduced oil drilling by as much as one-third so far this year, may cut it by a further 20% in 2021, says an oilfield services exec.
8:00 PM EST | October 14, 2020
Former Lukoil Trader Wins Venezuela Dispute
A unit of Lukoil had claimed the trader engaged in unauthorized purchases of Venezuelan crude.
8:00 PM EST | August 09, 2020
Iraq to Slash Oil Exports by at Least 15 Percent
Iraq has asked IOCs operating in the country, including BP, Exxon and Lukoil, to start curbing production.
8:00 PM EST | June 14, 2020
Aker Energy Eyes Offshore Ghana Options
Aker Energy reported that it remains on course to find a way to launch the phased development of the Pecan field offshore Ghana.
8:00 PM EST | June 07, 2020
Russia's Oil Producers Told to Cut Output by Fifth
After days of consultations on how to divide the supply curbs, companies were told to split Russia's 2.5 million barrel-a-day cut proportionally.
8:00 PM EST | April 19, 2020
Ghana FPSO Charter Goes to Yinson
This image illustrates FPSO and subsea infrastructure. IMAGE SOURCE: Aker Energy AS
7:00 PM EST | February 23, 2020
OPEC+ Cut Extension Wins Support from Russian Execs
Russia's key oil producers voiced support for the idea of extending OPEC+ output cuts into the second quarter.
7:00 PM EST | February 11, 2020
Aker Energy Strikes Oil at Offshore Ghana Well
Aker Energy, operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, has struck oil in the Pecan South-1A well offshore Ghana.
7:00 PM EST | March 04, 2019
Is the OPEC, Russia Honeymoon Over?
OPEC still needs an official arrangement, but for Russia the argument is weakening.
7:00 PM EST | February 25, 2019
Eni and Lukoil Form Offshore Mexico JVs
Eni and Lukoil have signed a farm-out deal to transfer participating interests in three shallow-water exploration licenses offshore Mexico, Eni reported.
7:00 PM EST | November 05, 2018
Lukoil Taps SNC-Lavalin for Iraq Contract
West Qurna Phase 2 comprises three main phases: two for the Misrif formation and one for the Yamama formation.
8:00 PM EST | September 05, 2018
Lukoil Reports 20% Rise In 2Q Profit On Stronger Oil, Weaker Rouble
Lukoil reports a 20% rise in second-quarter net profit helped by stronger oil prices and a weaker rouble.
8:00 PM EST | August 28, 2018
Romania Closes One Case Against Russia's Lukoil, Related Trial Still On
Romanian prosecutors have decided to close a criminal case against Russia's Petrotel Lukoil refinery.
7:00 PM EST | November 16, 2017
Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire
Crude oil deliveries to Lukoil's Norsi refinery in the Nizhny Novgorod region have been resumed after a fire at the facility, Russian pipeline monopoly Transneft.
8:00 PM EST | October 04, 2017
Russia's Lukoil Eyes Decade Of Oil Output Growth
Lukoil expects its output to rise over the next 8-10 years as it brings new fields onstream, vice president and co-owner Leonid Fedun says.
8:00 PM EST | September 19, 2017
Lukoil Finds Oil at Iraq Well
Lukoil reveals that it has hit oil at the Eridu 1 exploration well in southern Iraq's Block 10.
7:00 PM EST | February 21, 2017
Lukoil: CEO, VP Sell $34 Million Worth Of Shares
Lukoil CEO and VP sell a total of $34.3 million worth of Lukoil's shares.
7:00 PM EST | December 29, 2016
Sources: Russia's Lukoil Appoints New VP For Sales And Supplies
Russia's second biggest oil producer Lukoil has appointed a new vice-president for sales and supplies.
7:00 PM EST | December 26, 2016
Russia's Lukoil Says Ready To Take Part In Oil Output Cuts
Russia's No.2 oil producer Lukoil said on Friday it was ready to follow Russia's commitments to oil output cuts as part of a global pact.
7:00 PM EST | December 08, 2016
Ahead Of Promised Cut, Russia's Oil Output Hits Record High
Russia plans to use its rercent oil production as its baseline when it cuts output under this week's deal with OPEC,Deputy Energy Minister Kirill Molodtsov says.
7:00 PM EST | December 01, 2016
Russia's Lukoil Says Q3 Net Profit Down 12.5% Q-on-Q
Russia's No.2 oil producer Lukoil says its 3Q net profit fell 12.5% quarter-on-quarter, while its free cash flow jumped 83.4 percent to 104.5 billion roubles ($1.6 billion).
7:00 PM EST | November 28, 2016
Lukoil Flows Oil from V. Filanovsky Field in Caspian Sea
Lukoil flows oil from a third well at the offshore Vladimir Filanovsky field in the Caspian Sea.
7:00 PM EST | November 23, 2016
Kremlin Denies Media Report Putin Offered Lukoil A Stake In Rosneft
President Vladimir Putin did not offer the head of Russia's second biggest oil producer Lukoil the opportunity to acquire a stake in Rosneft, a Kremlin spokesman said on Thursday.
7:00 PM EST | November 16, 2016
Lukoil Raises $500M to Finance Gissar Project in Uzbekistan
Lukoil raises $500 million to finance the development of the Gissar group's gas condensate fields in Uzbekistan.
7:00 PM EST | November 15, 2016
Russia's Lukoil CEO Sees No Risk For Bashneft Sale From Ulyukayev's Case
Vagit Alekperov, CEO of Lukoil, which was bidding for rival Bashneft, said he saw no risks for Bashneft privatization due to detention of Economy Minister Alexei Ulyukayev's case.
7:00 PM EST | November 14, 2016
Russia's Lukoil Says Tax Changes Needed To Maintain Output
A new, profit-based tax regime for the Russian oil industry is critical to support the use of modern, high-cost technologies and maintain oil production, Leonid Fedun says.
7:00 PM EST | November 07, 2016
Vedomosti: Putin Invites Lukoil To Bid For Rosneft Stake
Russian President Vladimir Putin has offered Lukoil the chance to take part in the privatization of top oil producer Rosneft, Vedomosti reports, citing unnamed sources.
8:00 PM EST | November 01, 2016
Putin Launches Commercial Production at Vladimir Filanovsky Field
Commercial production at the Vladimir Filanovsky field in the Caspian Sea has been launched by the President of the Russian Federation, Vladimir Putin.
8:00 PM EST | October 31, 2016
Lukoil Considering Eurobond Within Weeks
Lukoil is considering launching its first international bond sale in more than 3 years in the coming weeks.
8:00 PM EST | October 17, 2016
Russia's Lukoil CEO Says Not Ready To Reduce Oil Output
Lukoil is not ready to reduce its oil output but will join oil market stabilization measures if Russia joins them.
8:00 PM EST | September 29, 2016
Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts
Iraq wants to review contracts with oil companies to cut the fees that the firms receive when crude prices are low, the OPEC nation's new oil minister says, standing by a demand made by his predecessor.
8:00 PM EST | August 21, 2016
Chevron Deadline Nears For $40B Bet On Next Decade's Oil
Chevron Corp. may shortly give a green light to the most expensive oil project in the world this year as the industry digs out from the worst slump in a generation.
8:00 PM EST | June 30, 2016
Lukoil Sees Pyakyakhinskoye Field Producing 1.5M Tons Of Oil In 2017
Russia's oil major Lukoil will produce 1.5 million tons of oil at the Pyakyakhinskoye field in 2017.
8:00 PM EST | June 22, 2016
Lukoil Spuds First Development Well at Filanovsky Field
Lukoil spuds the first development well at the Filanovsky field, located offshore Russia.
8:00 PM EST | June 15, 2016
Norway Opens Arctic Oil Exploration in Russian Border Area
Norway awards licenses to 13 oil companies as it expands into an entirely new part of the Arctic Barents Sea to stimulate exploration at a time of low crude prices.
8:00 PM EST | May 17, 2016
Russian Producer Lukoil's 2015 Profit Falls 26% On Oil Price Plunge
Lukoil's 2015 net income under International Financial Reporting Standards declined by 26% to $4.3 billion as spendings grew
8:00 PM EST | April 03, 2016
Russia's Dilemma: Squeeze Oil Industry Without Strangling Growth
While the world focuses on Russia's oil-freeze talks with OPEC, there are discussions behind closed doors in the Kremlin that will have a much more significant impact on the nation's energy industry.
7:00 PM EST | March 08, 2016
Lukoil Granted Right to Explore D33 Oil Field in Baltic Sea
Lukoil is granted the right to use the D33 oil field in the Baltic Sea for the purpose of hydrocarbon exploration and production.
7:00 PM EST | February 19, 2016
Russia's Lukoil Says Proved Oil Reserves Down to 12.6B Barrels
Russia's number-two oil producer Lukoil says its proved oil reserves were 12.6 billion barrels at the end of 2015, down from 13.6 billion barrels at the end of 2014.
7:00 PM EST | February 08, 2016
Lukoil Signs Cooperation Agreement with Krasnoyarsk Region
Russian oil firm Lukoil signs a cooperation agreement with the Krasnoyarsk Region in eastern Siberia, where the firm was recently granted a license to develop the East Taymyr block.
7:00 PM EST | January 26, 2016
TASS: Lukoil says Russia Needs to Work with OPEC
Russia needs to start working with OPEC to cut oil supplies to the world market in order to support prices, Lukoil Vice President Leonid Fedun says.
7:00 PM EST | January 24, 2016
Russia's Lukoil CEO Says Oil Prices below $24 per Barrel Unlikely
Global oil prices are unlikely to fall below $24 per barrel, Lukoil CEO says in a television interview.
7:00 PM EST | January 20, 2016
Iraq Wants Foreign Oil Firms to Cut Development Spending, Oil Minister Says
Iraq's oil minister says the country wants oil companies to cut spending as the nation seeks to narrow a budget gap caused by lower crude prices.
7:00 PM EST | January 18, 2016
Interfax: Russia's Lukoil Leaving Projects in Ivory Coast
Russia's second-largest oil producer, Lukoil, is leaving its project in the Ivory Coast, according to news agency Interfax.
7:00 PM EST | January 14, 2016
Russia's Lukoil Says Oil Output Exceeds 100M Tons in 2015, Up 3.5%
Russia's second-largest producer, Lukoil, says its annual crude oil output has surpassed 100 million tons for the first time.
7:00 PM EST | December 28, 2015
Lukoil Selling Lithuania, Latvia Assets on Anti-Russia Sentiment
Lukoil PJSC has decided to sell its filling stations in Lithuania and Latvia after relations toward Russia worsened in the Baltic nations, according to billionaire Chief Executive Officer Vagit Alekperov.
7:00 PM EST | December 23, 2015
ConocoPhillips Sells Stake in JV with Rosneft, Exits Russia
The exit from Russia comes about five years after ConocoPhillips sold its biggest sole asset there.
7:00 PM EST | December 21, 2015
Russia's Lukoil says 3Q Net Profit Falls 62%, Below Forecast
Lukoil's 3Q net profit falls by around 62% year-on-year to $623 million, missing a $922 million analysts' forecast in a Reuters poll.
7:00 PM EST | November 29, 2015
Lukoil Predicts its Russian Output Will be Unchanged Next Year
Oil producer aims to maintain output in Russia at this year's level of 86-to-87 million tons before increasing it by up to two million tons in 2017.
7:00 PM EST | November 23, 2015