Press Releases

OAO LUKOIL Press Service announces that persons discharging managerial responsibilities in the Company acquired ordinary shares of OAO LUKOIL through a related party on September 10, 2008.

A presentation on OAO LUKOIL’s activities in the Volga Federal District of theRussian Federation was held in the city of Nizhny Novgorod on 9 September.

The main stage of Volgograd-Antiterror-2008 International Exercises was held at the premises of LUKOIL-Volgogradneftepererabotka today.

LUKOIL net income excluding hedging and impairment loss reached $8,168 in the first half of 2008, which is an increase of 103.5% y-o-y. Reported net income amounted to $7,293 million in the first half of 2008, which is an increase of 91.1% y-o-y. EBITDA was $11,082 million, which is 74.5% higher y-o-y. Revenue from sales rose by 59.0%, to $56,890 million.

OAO LUKOIL held a meeting of the Board of Directors today in Moscow to summarize preliminary results of LUKOIL Group for the first six months of 2008, and to discuss budget and investment program implementation progress in the current year.

Today, OAO LUKOIL President Vagit Alekperov and ConocoPhillips Chairman and CEO Jim Mulva participated in a special ceremony on the occasion of the startup of the Yuzhno Khylchuyu (YK) field located in the Nenets Autonomous District.

LUKOIL Group refineries in Russia reduced factory prices for motor gasoline, diesel and jet fuel in August 2008.

This August LUKOIL Group's Russia-based refineries reduced their selling prices for diesel fuel, fuel oil and jet fuel.