Lukoil Company News
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Oil Drilling in Russia Could Fall 20% Next Year
Thursday, October 15, 2020Russia'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.
Former Lukoil Trader Wins Venezuela Dispute
Monday, August 10, 2020A unit of Lukoil had claimed the trader engaged in unauthorized purchases of Venezuelan crude.
Iraq to Slash Oil Exports by at Least 15 Percent
Monday, June 15, 2020Iraq has asked IOCs operating in the country, including BP, Exxon and Lukoil, to start curbing production.
Aker Energy Eyes Offshore Ghana Options
Monday, June 08, 2020Aker Energy reported that it remains on course to find a way to launch the phased development of the Pecan field offshore Ghana.
Russia's Oil Producers Told to Cut Output by Fifth
Monday, April 20, 2020After 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.
Ghana FPSO Charter Goes to Yinson
Monday, February 24, 2020This image illustrates FPSO and subsea infrastructure. IMAGE SOURCE: Aker Energy AS
OPEC+ Cut Extension Wins Support from Russian Execs
Wednesday, February 12, 2020Russia's key oil producers voiced support for the idea of extending OPEC+ output cuts into the second quarter.
Aker Energy Strikes Oil at Offshore Ghana Well
Tuesday, March 05, 2019Aker Energy, operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, has struck oil in the Pecan South-1A well offshore Ghana.
Is the OPEC, Russia Honeymoon Over?
Tuesday, February 26, 2019OPEC still needs an official arrangement, but for Russia the argument is weakening.
Eni and Lukoil Form Offshore Mexico JVs
Tuesday, November 06, 2018Eni and Lukoil have signed a farm-out deal to transfer participating interests in three shallow-water exploration licenses offshore Mexico, Eni reported.
Lukoil Taps SNC-Lavalin for Iraq Contract
Thursday, September 06, 2018West Qurna Phase 2 comprises three main phases: two for the Misrif formation and one for the Yamama formation.
Lukoil Reports 20% Rise In 2Q Profit On Stronger Oil, Weaker Rouble
Wednesday, August 29, 2018Lukoil reports a 20% rise in second-quarter net profit helped by stronger oil prices and a weaker rouble.
Romania Closes One Case Against Russia's Lukoil, Related Trial Still On
Friday, November 17, 2017Romanian prosecutors have decided to close a criminal case against Russia's Petrotel Lukoil refinery.
Transneft: Oil Supplies to Lukoil's Norsi Refinery Suspended Due to Fire
Thursday, October 05, 2017Crude 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.
Russia's Lukoil Eyes Decade Of Oil Output Growth
Wednesday, September 20, 2017Lukoil 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.
Lukoil Finds Oil at Iraq Well
Wednesday, February 22, 2017Lukoil reveals that it has hit oil at the Eridu 1 exploration well in southern Iraq's Block 10.
Lukoil: CEO, VP Sell $34 Million Worth Of Shares
Friday, December 30, 2016Lukoil CEO and VP sell a total of $34.3 million worth of Lukoil's shares.
Sources: Russia's Lukoil Appoints New VP For Sales And Supplies
Tuesday, December 27, 2016Russia's second biggest oil producer Lukoil has appointed a new vice-president for sales and supplies.
Russia's Lukoil Says Ready To Take Part In Oil Output Cuts
Friday, December 09, 2016Russia'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.
Ahead Of Promised Cut, Russia's Oil Output Hits Record High
Friday, December 02, 2016Russia 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.
Russia's Lukoil Says Q3 Net Profit Down 12.5% Q-on-Q
Tuesday, November 29, 2016Russia'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).
Lukoil Flows Oil from V. Filanovsky Field in Caspian Sea
Thursday, November 24, 2016Lukoil flows oil from a third well at the offshore Vladimir Filanovsky field in the Caspian Sea.
Kremlin Denies Media Report Putin Offered Lukoil A Stake In Rosneft
Thursday, November 17, 2016President 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.
Lukoil Raises $500M to Finance Gissar Project in Uzbekistan
Wednesday, November 16, 2016Lukoil raises $500 million to finance the development of the Gissar group's gas condensate fields in Uzbekistan.
Russia's Lukoil CEO Sees No Risk For Bashneft Sale From Ulyukayev's Case
Tuesday, November 15, 2016Vagit 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.
Russia's Lukoil Says Tax Changes Needed To Maintain Output
Tuesday, November 08, 2016A 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.
Vedomosti: Putin Invites Lukoil To Bid For Rosneft Stake
Wednesday, November 02, 2016Russian President Vladimir Putin has offered Lukoil the chance to take part in the privatization of top oil producer Rosneft, Vedomosti reports, citing unnamed sources.
Putin Launches Commercial Production at Vladimir Filanovsky Field
Tuesday, November 01, 2016Commercial production at the Vladimir Filanovsky field in the Caspian Sea has been launched by the President of the Russian Federation, Vladimir Putin.
Lukoil Considering Eurobond Within Weeks
Tuesday, October 18, 2016Lukoil is considering launching its first international bond sale in more than 3 years in the coming weeks.
Russia's Lukoil CEO Says Not Ready To Reduce Oil Output
Friday, September 30, 2016Lukoil is not ready to reduce its oil output but will join oil market stabilization measures if Russia joins them.
Iraq's New Oil Minister Sticks By Demand to Review Foreign Contracts
Monday, August 22, 2016Iraq 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.
Chevron Deadline Nears For $40B Bet On Next Decade's Oil
Friday, July 01, 2016Chevron 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.
Lukoil Sees Pyakyakhinskoye Field Producing 1.5M Tons Of Oil In 2017
Thursday, June 23, 2016Russia's oil major Lukoil will produce 1.5 million tons of oil at the Pyakyakhinskoye field in 2017.
Lukoil Spuds First Development Well at Filanovsky Field
Thursday, June 16, 2016Lukoil spuds the first development well at the Filanovsky field, located offshore Russia.
Norway Opens Arctic Oil Exploration in Russian Border Area
Wednesday, May 18, 2016Norway 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.
Russian Producer Lukoil's 2015 Profit Falls 26% On Oil Price Plunge
Monday, April 04, 2016Lukoil's 2015 net income under International Financial Reporting Standards declined by 26% to $4.3 billion as spendings grew
Russia's Dilemma: Squeeze Oil Industry Without Strangling Growth
Wednesday, March 09, 2016While 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.
Lukoil Granted Right to Explore D33 Oil Field in Baltic Sea
Saturday, February 20, 2016Lukoil is granted the right to use the D33 oil field in the Baltic Sea for the purpose of hydrocarbon exploration and production.
Russia's Lukoil Says Proved Oil Reserves Down to 12.6B Barrels
Tuesday, February 09, 2016Russia'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.
Lukoil Signs Cooperation Agreement with Krasnoyarsk Region
Wednesday, January 27, 2016Russian 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.
TASS: Lukoil says Russia Needs to Work with OPEC
Monday, January 25, 2016Russia 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.
Russia's Lukoil CEO Says Oil Prices below $24 per Barrel Unlikely
Thursday, January 21, 2016Global oil prices are unlikely to fall below $24 per barrel, Lukoil CEO says in a television interview.
Iraq Wants Foreign Oil Firms to Cut Development Spending, Oil Minister Says
Tuesday, January 19, 2016Iraq'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.
Interfax: Russia's Lukoil Leaving Projects in Ivory Coast
Friday, January 15, 2016Russia's second-largest oil producer, Lukoil, is leaving its project in the Ivory Coast, according to news agency Interfax.
Russia's Lukoil Says Oil Output Exceeds 100M Tons in 2015, Up 3.5%
Tuesday, December 29, 2015Russia's second-largest producer, Lukoil, says its annual crude oil output has surpassed 100 million tons for the first time.
Lukoil Selling Lithuania, Latvia Assets on Anti-Russia Sentiment
Thursday, December 24, 2015Lukoil 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.
ConocoPhillips Sells Stake in JV with Rosneft, Exits Russia
Tuesday, December 22, 2015The exit from Russia comes about five years after ConocoPhillips sold its biggest sole asset there.
Russia's Lukoil says 3Q Net Profit Falls 62%, Below Forecast
Monday, November 30, 2015Lukoil's 3Q net profit falls by around 62% year-on-year to $623 million, missing a $922 million analysts' forecast in a Reuters poll.
Lukoil Predicts its Russian Output Will be Unchanged Next Year
Tuesday, November 24, 2015Oil 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.
Russia's Lukoil to Take Part in Tender for Gulf of Mexico
Friday, October 30, 2015Lukoil plans to take part in a tender to explore for oil and gas in the Gulf of Mexico, says the company's chief executive Vagit Alekperov.