Company "Lukoil": history, leaders, activities

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Lukoil has been Russia's leading corporation engaged in oil production and refining for about 25 years. It is worth noting that the company was included in the ranking of the 100 largest brands in the world. These and other interesting facts will be covered in this article.

Company History

Lukoil began its activities as a concern, which was established in 1991. It consisted of 3 enterprises engaged in oil production and 3 oil refineries. In 1993, OJSC Lukoil was opened. A year later, the company began active auctions, and very soon the government transferred to Lukoil some stakes in other enterprises engaged in the same activity.

Approximately since 1994, Lukoil began expanding its geography with participation in one international project together with Azerbaijan. A year later, the United States enters the race, buying back a block of shares. The company also opens its own charitable foundation, the development of which includes many countries of the world. Iran is no exceptionwith Kazakhstan. A little later, launch new projects in these countries, one of them was the creation of a racing team and a sports club.

The 2000s started very well for Lukoil. The company was able to finally enter the US market by acquiring one of the American corporations. As a result, she managed a network of gas stations in America. The new millennium also brought the discovery of new oil and gas provinces in Russia.

Lukoil sold all government shares in 2004 and became completely private.

In 2007, cooperation began with another major Russian company, Gazprom.

In 2016, the corporation celebrated its 25th anniversary. By this date, the completion of the modernization of old plants was timed and the use of two new deposits began.

Current leadership

The company's management apparatus consists of 13 people: the president and 12 vice presidents of the company.

Alekperov Vagit Yusufovich

The future president of Lukoil was born in 1950. From childhood, he realized that he wanted to connect his life with oil production. Therefore, he entered the Azerbaijan Institute of Oil and Chemistry, from which he graduated in 1974. Later he defended his doctorate and received the degree of "Doctor of Economic Sciences", then he was admitted to the Russian Academy of Natural Sciences, of which he is still a member. Vagit Yusufovich was awarded a large number of medals, orders and certificates.

Alekperov is included inrating of the richest people in the world, and among the 200 richest businessmen in Russia, he ranks 9th (according to Forbes).

Vagit Yusufovich is married and has an adult son. By the way, the son of the president of Lukoil followed in his father's footsteps and graduated from the Moscow University of Gas and Oil in 2012.

Love Hoba

This is the only female vice president of the company. She was born in 1957 and graduated from the Institute of National Economy in Sverdlovsk in 1992 with a PhD in Economics. She was awarded a huge number of honorary medals, certificates, and distinctions. At first, Khoba Lyubov Nikolaevna held the position of chief accountant in the subsidiaries of the corporation. And since 2012, she has been the vice president of Lukoil.

Activities in progress

The plan has not changed since the foundation of the concern in 1991. It affects all types of activities, from exploration of deposits to the sale of products to the consumer. It is worth mentioning that the company was created during a difficult period in the life of the country, accompanied by a crisis, devaluation, and riots. But Lukoil is an oil company that managed to keep its name even in such difficult conditions.

Thanks to the effective division of labor while maintaining a single gold standard, the company was able to reach the world level..

If we talk about the ongoing activities of the company, then we can conditionally divide it into two components:

1. Exploration and production
2. Processing, trading and marketing.

Social responsibility

The company is engaged in charity, constantly introducing new projects to the world.

• In 1993, Lukoil created a corporate charitable foundation, which is rapidly developing every year, keeping up with the times. The Fund constantly provides assistance to the population dependent on social support. These are educational institutions, orphanages, temples, various museums and theaters, leisure centers. Support is provided not just in the form of material assistance, but also through contests and olympiads that reveal children's talents.
• In 2002, the company launched the Red Chum project. This program operates on the territory of the Yamalo-Nenets Autonomous Okrug, where people have only one branch of specialization - reindeer herding. It can be said that civilization bypasses the population of the district. There are practically no conditions for the implementation of medical activities. Therefore, Lukoil is striving to create emergency ambulance teams in the district, providing them with everything they need.
• The corporation cares about the preservation of the country's cultural heritage, for this, various exhibitions are held in museums, lectures are given, and various competitions are held. Support is provided for young creative teams, sponsoring performances and trips. Old architectural structures and facades are constantly being restored at the expense of the budget of the Lukoil company. This is especially often observed in the cultural capital of our country - St. Petersburg.