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Corporate Profile

25
Years
of
Sustainable
Development

LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world accounting for more than 2% of the world's oil production and around 1% of the proved hydrocarbon reserves. 

Each day we improve the quality of life for millions of consumers in over 100 countries around the globe through the supply of our products, power, and heat. We employ over 100,000 people who join their efforts and expertise to ensure the Company’s efficient development and secure its market leadership.

  • Results 2017

Each day we improve the quality of life for millions of consumers in over 100 countries around the globe through the supply of our products, power, and heat. We employ over 100,000 people who join their efforts and expertise to ensure the Company’s efficient development and secure its market leadership.

Our corporate mission is to make the energy of natural resources serve the interests of mankind, to efficiently and responsibly develop the unique hydrocarbon fields entrusted to us by providing Company growth, the wellbeing of its employees and community at large.

In 2017, the Board of Directors approved the Strategic Development Program of LUKOIL Group for 2018–2027. The updated strategy is focused on driving sustainable growth in key performance indicators and the Company’s progressive dividend policy in a conservative oil price scenario, while pursuing additional growth opportunities and distributions to shareholders in a more favorable environment.

  • Personnel. Whatever the Company does is done by the people and for the people.

  • Environment and Technologies. Being one of the world's largest users of natural resources, LUKOIL stringently abides by the highest global environmental standards and prides itself on the environmental management system it has in place across the entire Company's vertical chain of management.

  • Responsibility for the human lives and the natural resources entrusted to us in the regions of our presence.

  • Openness and partnership in cooperation with the society and stakeholders.

  • Ethics. Following its mission, LUKOIL is guided by fairness and justice, respect and integrity.

Taking social responsibility for the rational use of natural resources and maintaining favorable environmental conditions in its business, LUKOIL is guided by the highest HSE standards. In its operations the Company pursues the sustainable development principles and seeks to achieve a good balance between socio-economic and environmental development.

The Company has a well-developed corporate governance system governed by business conduct and ethics set at international standards, Russian law requirements, the Moscow Exchange Listing Rules, and provisions of the Corporate Governance Code recommended by the Bank of Russia.