Press Releases

Today’s issue of the Russian newspaper RBC Daily has published an article about OAO LUKOIL’s alleged plans to reshuffle its Management Committee.

This August OAO LUKOIL has introduced the Company’s Code of Business Ethics. The Code is a set of the most important business rules of the Company and its employees, ethical corporate business practices, social responsibility and other top priority issues of business ethics.

LUKOIL Group total hydrocarbon production available for sale reached 2,261 th. boe per day in the first half of 2010, which is a 1.8% increase y-o-y.

Crude oil production by LUKOIL Group in the first half of 2010 totalled 48.14 mln tons. Natural and petroleum gas output of LUKOIL Group available for sale was 9.24 bcm (grew by 25.6% y-o-y): output as part of international projects totalled 2.48 bcm, output in Russia was 6.76 bcm.

Lukoil Finance Ltd. (a wholly owned subsidiary of OAO LUKOIL) raised a USD 1.5 billion loan facility (the ‘Facility’). The Facility was guaranteed by OAO LUKOIL.

Today LUKOIL Finance Ltd. (a 100% subsidiary of OAO LUKOIL) signed a stock purchuse agreement with Springtime Holdings Ltd. (an affiliate of ConocoPhillips) to purchase 64,638,729 OAO LUKOIL ordinary shares (7.6%) at USD 53.25 per share for the total amount of USD 3,442,012,319.25.

The Board of Directors of OAO LUKOIL held a meeting in Moscow today to resolve a number of issues related to corporate governance.

LUKOIL and the Italian company ERG Renew signed a Memorandum of Understanding to set basic terms and conditions for cooperation in the market of renewable energy sources, with a key focus on the wind-energy sector.

A consortium, including LUKOIL Overseas (a 100% subsidiary of OAO LUKOIL) and Vanco International of USA, has won a tender for exploration and development of two blocks, Est Rapsodia and Trident, in the Romanian sector of the Black Sea. The respective stakes of LUKOIL Overseas and Vanco in the consortium are 80% and 20%.