Lukoil tgk



Keywords: lukoil tgk
Description: LUKOIL is one of the world’s leading vertically integrated oil & gas companies accounting for 2.2% of global output of crude oil and working in more than 38 countries worldwide. The main

LUKOIL is one of the world’s leading vertically integrated oil & gas companies accounting for 2.2% of global output of crude oil and working in more than 38 countries worldwide. The main activities of the company are exploration and production of oil & gas, production of petroleum products and petrochemicals and marketing of these outputs. Most of the company’s exploration and production activity is located in Russia and its main resource base is in Western Siberia. LUKOIL owns modern refineries, gas processing and petrochemical plants located in Russia, Europe and CIS countries. The company’s production is marketed in Russia, Eastern and Western Europe, CIS countries and the United States.

The strong position, which the company is in today, is the fruit of 20 years work to expand the reserve base, increasing business scale by seeking out and executing strategic transactions.

LUKOIL’s current oil export terminal infrastructure includes the unique Varandey oil loading terminal located on the coast of the Barents Sea, equipped with an ice resistant loading sea terminal which is used for year-round deliveries of oil, produced locally by LUKOIL, for supply to export markets, notably the United States.

LUKOIL business model is based on the company’s control of the entire production chain from extraction of hydrocarbons to the sale of fuels and other products to end users. This means that LUKOIL can efficiently manage all stages of its business.

90.6% of company’s proven reserves and 89.8% of marketable hydrocarbon production are in Russia.

Most activity is concentrated in four federal districts of the Russian Federation: the North-West, the Volga, the Urals and the South.

The company’s main resource base and oil production region is Western Siberia which accounted for 44% of proven hydrocarbon reserves and 49% of LUKOIL’s hydrocarbon production in 2012.

International projects account for 9.4% of company’s proven hydrocarbon reserves and 10.2% of marketable hydrocarbon production.

By developing this segment the company lowers its exposure to high price volatility on the crude oil market and enhances its competitive position in main business regions by production and sale of high-quality petroleum products with high added value.

LUKOIL currently produces a wide range of high-quality petroleum and gas products and petrochemicals, selling them wholesale and via retail in over 30 countries.

LUKOIL has oil refineries in 5 countries (including ISAB refinery complex and shares in the Zeeland Refinery).

Overall capacity of LUKOIL Group refineries at the end of 2012 was 77.1 million tons of crude oil per year.

The Company owns 4 oil refineries and 2 mini-refineries in Russia, as well as 4 gas-processing plants. The Company’s Russian assets also include 2 petrochemical plants.

Overall capacity of Russian oil refineries of LUKOIL Group at the end of 2012 was 45.7 million tons per year (335 million barrels per year).

As of July 2012 all of LUKOIL’s Russian refineries had switched to production of automotive gasoline that fully meets Euro-5 specifications. This enabled savings in 2012 on excise rates, which are differentiated according to fuel quality.

Euro-5 gasoline ensures so-called “clean exhaust”, reducing emission of sulphur oxides and the products of incomplete combustion of aromatics (including the particularly dangerous carcinogen and mutagenic, benzopyrene).

Power Generation sector comprises all aspects of power generation, including delivery and marketing of electrical energy and of heat produced at power plants. The nucleus of the segment is the Russian power generating Company, UGK TGK-8, which was acquired by LUKOIL in 2008, but it also includes companies producing electricity and heat in Bulgaria, Romania and Ukraine.

LUKOIL Group has power generating capacity of 4.0 GW. The Group’s electricity output in 2012 totalled 15.4 billion kWh. Heat production in 2012 was 14.7 million Gcals.

Innovation and the application of new technologies are among the main competitive strengths of LUKOIL. The Company’s specialists both design new technologies and work to modernize existing technologies.

Total Research and Development financing increased in 2012 and accounted for more than $157 million (comparing with more than $140 million in 2011).

A project to create innovative technologies for improvement of oil recovery rates through integration of heat and gas methods was presented in 2012 in the framework of cooperation between RITEK and the Skolkovo Foundation. A RITEK subsidiary, RITEK-ITs, was set up for purposes of project implementation and became a participant of the Skolkovo Foundation in 2012.

The Group continued to work closely in 2012 with the Russian Corporation of Nanotechnologies (RUSNANO) on commercialization of nanotechnologies with applications in the oil & gas industry. RITEK carried out joint work with RUSNANO during the accounting year on innovative developments for extraction of difficult reserves in Bazhenov formations. Testing of mini-GTL technologies was also carried out as part of R&D work on techniques for refining of associated petroleum gas into liquid hydrocarbons.






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Kapital View  Fixed Income


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