Press Releases

The Board of Directors of OAO LUKOIL held a meeting today inTashkent (the Republic of Uzbekistan) where resolutions relating to the Annual General Shareholders Metting were passed.

OAO LUKOIL President Vagit Alekperov and President Victor Yushchenko ofUkraine attended the official ceremony of commissioning the Odessa refinery today as the reconstruction of the refinery, started in 2005, has been completed.

LUKOIL has become winner in the Filling Station of the Year rating for the third time running, based on Trusted Brand 2008 survey held in Russia by Reader’s Digest, an international publishing house.

The Transaction involves the acquisition by Archangel of an interest in OAO Arkhangelskoe Geologodobychnoe Predpriyatie (“AGD”), a Russian open joint stock company currently wholly-owned by LUKOIL Group and the holder of the licence to explore and mine the Verkhotina licence area .

OAO LUKOIL Press Service reports that the statement made on April 10, 2008 regarding Uzbek gas export price in 2009 is solely based on expectations of the Company’s individual employees.

LUKOIL EKTO branded automobile fuel has won the second prize of the Brand of the Year/EFFIE 2007 contest, Auto-moto category.

The Program covers over one thousand topics divided into four subprograms, including: research and development, experimental and technological projects, research and technology in field development, research and technology in geological exploration, research and technology services.

LUKOIL net income reached a record of $9,511 million in 2007, which is an increase of 27.1% y-o-y. EBITDA was $15,388 million, which is 25.1% higher y-o-y. Revenue from sales rose by 21.0%, to $81,891 million.

Vagit Alekperov, President of OAO LUKOIL and Mr.Vladimir Yakunin, President of OAO Russian Railways (RZhD) signed minutes of the meeting held in Moscow today to define major bullet points of cooperation for 2008 aimed at developing both companies’ transport infrastructure to ensure guaranteed petroleum products deliveries from LUKOIL facilities.