LUKOIL

Name

LUKOIL

Legal name

PJSC LUKOIL

Website

https://lukoil.com

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Integrated Oil and Gas

NAICS

Petroleum Refineries (324110), Petroleum Refineries (32411), Petroleum Lubricating Oil and Grease Manufacturing (324191), Crude Petroleum Extraction (211120), Petrochemical Manufacturing (32511)

SIC

Petroleum Refining (2911), Crude Petroleum & Natural Gas (1311), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Crude Oil & Refined Products Trading & Marketing (EUAGAAAD)

akta.pro secondary industries

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB), Lubricants Distribution & Wholesale (Bulk, Packaged, B2B) (EUALAJAE), Retail & E-commerce Lubricants Sales (Auto Parts, Quick Lube, Online) (EUALAJAF)

Keywords

• Oil and gas production
• Petroleum refining
• Petrochemical manufacturing
• Retail fuel stations
• Lubricant production

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations

Revenue model

1. Upstream - Oil and Gas Production: Exploration and production of crude oil and natural gas across operations in Russia, Central Asia, Middle East, West Africa, and Americas. Revenue from sale of produced hydrocarbons on global markets.
2. Downstream - Refining and Marketing: Refining crude oil into petroleum products (gasoline, diesel, jet fuel, etc.) and marketing through owned retail stations and wholesale channels across 19 countries.
3. Petrochemicals: Production and export of petrochemical products to more than 30 countries worldwide.
4. Power Generation: Generation and supply of heat and electric power through gas-fired power stations and renewable energy facilities in Russia, Bulgaria, Romania, and Austria.
5. Lubricants and Specialty Products: Production and sale of branded engine oils and lubricants including LUKOIL GENESIS line through premium distribution channels.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

LUKOIL is a vertically integrated oil and gas company engaged in the exploration and production of crude oil and natural gas (1.8 million boe/day in 2025, 12.7 billion boe proved reserves), refining of crude oil into petroleum products (66.2 million tonnes aggregate capacity), production of petrochemicals (exported to 30+ countries), manufacturing and sale of branded lubricants (LUKOIL GENESIS, ECTO, Eco EURO), power generation (gas, solar, wind, hydro), and wholesale and retail distribution of fuels through 1,000+ filling stations in 19 countries.

Product overview

LUKOIL is a vertically integrated oil and gas company offering a comprehensive portfolio of energy products and services. The core products include petroleum products, natural and liquefied petroleum gas, petrochemicals, aviation fuel, and marine fuel/lubricants. The company operates retail filling stations and wholesale distribution networks. Branded fuel products include ECTO Fuel, LUKOIL GENESIS (lubricants), and Eco EURO Fuel. LUKOIL also has power generation assets including solar, wind, and hydroelectric facilities. The company operates refineries in Russia (Perm, Volgograd, Nizhny Novgorod, Ukhta) and Europe (Romania, Bulgaria), with a 45% interest in a Dutch refinery. Total aggregate refining capacity is 66.2 million tonnes.

Differentiator

Problem solved

Functional benefit

Brands

• ECTO Fuel: Production line of innovation fuels compliant with all industry standards
• LUKOIL GENESIS
• Eco EURO fuel

Products and services

• ECTO Fuel

Quantifiable outcome

• Second-largest oil producer in Russia with 15.1% of Russia's total production
• +3 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Gazprom NeftcoreStrategic or Co-development Partner · 1 April 2024Strategic partnership agreement signed covering cooperation across hydrocarbon exploration, production, processing, and marketing through 2030.
• Gazprom NeftcoreStrategic or Co-development Partner · 28 December 2021Joint venture created to develop large oil and gas cluster in Yamal-Nenets Autonomous District. Lukoil acquired 50% of Meretoyakhaneftegaz LLC for RUB 52 billion.
• ADNOC (Abu Dhabi National Oil Company)minorStrategic or Co-development Partner · 1 January 2019Lukoil acquired 5% interest in Ghasha concession in UAE (ADNOC 55% operator, ENI 25%, Wintershall 10%, OMV 5%). Development of nine offshore fields.
• Eni (Mexico Joint Venture)minorStrategic or Co-development Partner · 1 January 2017Consortium with Eni for Mexico Block 28 (Lukoil 25%, Eni 75% operator) and farm-out arrangement for Blocks 10 and 12 in Mexico shallow waters.
• INPEX CorporationminorStrategic or Co-development Partner · 1 January 2012Joint venture for Block 10 exploration in Iraq (Lukoil 60% operator, INPEX 40%). Eridu field discovery with over 1,000 cubic meters per day oil production.
• BashneftminorStrategic or Co-development Partner · 1 January 2011Joint venture established to develop R. Trebs and A. Titov oil fields in Nenets Autonomous region. Lukoil share 25.1%.
• Chevron CorporationcoreStrategic or Co-development Partner · 1 January 1997Joint venture partner at Karachaganak oil and gas field (13.5% stake) and Tengiz field (5% via Lukarco). Also engaged in West Qurna-2 transition where Chevron is taking over operations from Lukoil in Iraq.
• ShellcoreStrategic or Co-development Partner · 1 January 1997Joint venture partner at Karachaganak field (29.25% stake, co-operator) and CPC pipeline (2% stake). Long-standing international partnership.
• EnicoreStrategic or Co-development Partner · 1 January 1997Joint venture partner at Karachaganak field (29.25% stake, co-operator) and CPC pipeline (2% stake). Active in international projects.
• KazMunayGascoreStrategic or Co-development Partner · 1 January 1997National oil company of Kazakhstan, partner at Karachaganak (10% stake) representing Kazakhstan's interests in major hydrocarbon projects.
• BP (British Petroleum)coreStrategic or Co-development Partner · 1 January 1996Operator of Shah-Deniz gas-condensate field in Azerbaijan where Lukoil holds 19.99% equity stake. Pipeline exports gas to Europe via TAP.
• TransneftcoreStrategic or Co-development Partner · 1 January 1996Managing interest in Caspian Pipeline Consortium (31% via Russian government). Pipeline runs from Tengiz to Novorossiysk with over 1.5 million km length.
• ExxonMobilcoreStrategic or Co-development Partner · 1 January 1993Partner at Tengiz project (25% stake) and CPC pipeline (7.5% stake). Major international collaboration for Kazakhstan oil development.

Scale indicators14 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Eni: Integrated IOC and JV partner at Karachaganak (29.25%), CPC (2%), Mexico shallow-water blocks, and the UAE Ghasha concession (25%). Closely comparable as a mid-tier IOC with strong Mediterranean/Caspian/Middle East overlap with LUKOIL.
• TotalEnergies: Global IOC with comparable vertically integrated upstream-to-retail operations including lubricants (TotalEnergies/Elf brand), refining, and petrochemicals. Useful benchmark for integrated IOC unit economics and European downstream exposure.
• BP: Operator of the Shah-Deniz gas-condensate field where LUKOIL holds 19.99%. Comparable as a supermajor IOC with global E&P portfolio and significant Caspian exposure that has actively restructured Russian holdings.
• Shell: Global IOC and co-operator with 29.25% at Karachaganak and 2% in CPC. Comparable as a diversified IOC that has progressively divested Russian joint-venture stakes, providing a template for the strategic repositioning LUKOIL is undergoing.
• ExxonMobil: Global IOC and LUKOIL JV partner at Tengiz (25%) and CPC pipeline (7.5%); a benchmark peer for supermajor scale, IOC economics, and integrated upstream/downstream/chemicals portfolio.
• Chevron: Global IOC, JV partner at Karachaganak (13.5%) and Tengiz (5% via Lukarco), and the operator taking over West Qurna-2 from LUKOIL. Comparable as a major IOC with Caspian and Middle East exposure.

Direct peers

• Rosneft: Russia's largest state-controlled oil producer and the most direct domestic peer to LUKOIL across upstream, refining, and retail. Also sanctioned by the US, making it the closest comparator for navigating the post-sanctions Russian operating environment.
• Gazprom Neft: Oil arm of Gazprom and an active JV partner with LUKOIL at Meretoyakhaneftegaz and on a 2030 strategic cooperation agreement. Operates across the same Russian upstream/downstream value chain with overlapping customer segments and refining footprint.
• Tatneft: Major Russian vertically integrated oil company with upstream production, refining (TAIF complex in Tatarstan), and petrochemical operations. Comparable in vertical integration and exposure to Russian domestic markets.
• Surgutneftegas: One of Russia's largest oil producers focused on Western Siberia, with significant refining capacity and a fully integrated upstream-to-retail model. Closely comparable in cost-efficient brownfield operations and Russian market exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lukoilengl
• Facebookfacebook.com/lukoil.en

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LUKOIL