LUKOIL's Associated Petroleum Gas Starts Flowing to Gazprom's Sosnogorsk GPP
Associated petroleum gas produced from the northern group of fields owned by LUKOIL-Komi started flowing to the Gazprom-owned Sosnogorsk gas processing plant (GPP). APG supplies will enable the loading of available capacities of the Sosnogorsk GPP and will make it possible to utilize efficiently the growing APG production from the …
LUKOIL Produces 30 Billion Cubic Meters of Natural Gas in Uzbekistan
LUKOIL has cumulatively produced 30 billion cubic meters (bcm) of natural gas at its projects in Uzbekistan. Most of this (about 85%) comes from the Khauzak-Shady field in the Bukhara Province. Commercial gas production at the Khauzak-Shady field started in November 2007. In 2011, the West Shady site was put …
LUKOIL Develops Co-Operation With Ford Sollers
OOO LLK-International (a fully owned subsidiary of PSJC LUKOIL) and Ford Sollers Joint Venture have signed an agreement providing for the supply of LUKOIL GENESIS oils for the first fill of Ford engines to be manufactured this year at the new Ford Sollers Plant in Elabuga. The oils have been …
LukOIL: 1H Board Review
The PJSC LUKOIL Board of Directors has reviewed the preliminary results for the first half of 2015 and progress in the realization of budget and investment programs for 2015, in Moscow today. As a result of geological exploration carried out by the company within the reporting period, the hydrocarbon recoverable …
LukOIL: 1h Results – Production Up 4.8%, EBITDA Down 32.4%
LUKOIL has published consolidated US GAAP financial statements for the first half of 2015. In the first half of 2015, daily hydrocarbon production by the Group was 2,373 thousand boe per day (+4.8% y-o-y). Crude oil and natural gas liquids produced by the Group were 2,044 thousand barrels per day …
Lukoil: Sells Caspian Investments Resources to Sinopec for USD 1,087 million
PJSC LUKOIL closed a deal to sell its 50% share in Caspian Investments Resources Ltd. to China-based Sinopec. The required permits from the state authorities of the Republic of Kazakhstan were acquired in late July 2015. According to the contract LUKOIL receives USD 1,087 million. Caspian Investments Resources Ltd. has …
LukOIL: Produces Five Millionth Tonnes of Oil at the Yuri Korchagin Caspian Field
PJSC LUKOIL passed a 5 million tonnes (38.6 million barrels) mark in oil production at the Yuri Korchagin field in the Caspian Sea. Production at the field was launched in April 2010. Its proven oil reserves are 113 million barrels. In 2014, the field produced 1.5 million tonnes (11.3 million …
Gazprom Agrees To Buy LukOIL’s Gas
Today Vagit Alekperov, OAO LUKOIL President, and Alexey Miller, OAO GAZPROM Chairman of the Board, held a working meeting at the Saint Petersburg International Economic Forum. The parties discussed the implementation of the General Agreement on strategic partnership and, in particular, on the purchase of gas produced by LUKOIL. The …
Gazprom Agrees To Buy LukOIL's Gas
Today Vagit Alekperov, OAO LUKOIL President, and Alexey Miller, OAO GAZPROM Chairman of the Board, held a working meeting at the Saint Petersburg International Economic Forum. The parties discussed the implementation of the General Agreement on strategic partnership and, in particular, on the purchase of gas produced by LUKOIL. The …
LukOIL: Q1 Results – Net Income Down 60%, Lifting Costs Down 19%
LUKOIL has published consolidated US GAAP financial statements for the first quarter of 2015. The Company’s net income in the first quarter of 2015 amounted to $690 million, which is a 60.2% y-o-y decrease. EBITDA (earnings before interest, taxation, depreciation and amortization) in the first quarter of 2015 decreased by …