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LUKOY.PK on OTC Markets Group

20 Oct 2017
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Latest Key Developments (Source: Significant Developments)

Russia's Lukoil says oil output at 21.8 mln T in Q2
Tuesday, 15 Aug 2017 04:13am EDT 

Aug 15 (Reuters) - Russian oil producer Lukoil said on Tuesday::Its daily hydrocarbon production excluding West Qurna-2 project for the first six months of 2017 increased by 1.5 percent year-on-year to 2,217 thousand barrel of oil equivalent (boe) per day;.In the second quarter of 2017, its hydrocarbon production was 2,222 thousand boe per day, representing a 0.4 percent growth quarter-on-quarter. The increase in production was driven by the development of gas projects;.Its crude oil production was at 21.788 million tonnes in the second quarter of 2017 vs 21.802 million tonnes in the first quarter of 2017 due to the temporary external limitations of Russian companies' production volumes;.For the first six months of 2017, oil production was 43.6 million tonnes compared to 46.8 million tonnes mainly due to the reduction in compensation crude oil volumes from the West Qurna-2 project in Iraq;.Its gas production increased by 7.6 percent quarter-on-quarter and amounted to 7.0 bcm in the second quarter of 2017..  Full Article

Russia's Lukoil sees its oil production down 1 pct in 2017 - first VP
Wednesday, 14 Jun 2017 09:30am EDT 

June 14 (Reuters) - Alexander Matytsyn, first vice president of Russia's No.2 oil producer Lukoil , told reporters on Wednesday::Lukoil's 2017 capital expenditures planned at 550 billion roubles ($9.7 billion).Lukoil assumes that oil prices will average $40 per barrel in 2017.Lukoil sees its oil production falling 1 percent in 2017 due to global agreement on output cuts.Lukoil plans to fund debt repayments using cash flow, borrowings complimentary.Lukoil has no plans to sell treasury shares in the short term .Lukoil does not plan to reduce output in Iraq.Lukoil expects that production at its West Siberia fields will fall 2 percent annually over the medium term.  Full Article

Russia's Lukoil sees oil price not higher than $60 in next 3 years - TASS
Thursday, 1 Jun 2017 05:23am EDT 

June 1 (Reuters) - Chief Executive of Russia's second biggest oil producer Lukoil , Vagit Alekperov, told TASS news agency on Thursday that::Lukoil does not expect global oil price to be higher than $60 per barrel in the next three years;.Lukoil sees average oil price at $55 in 2018, he added..  Full Article

Lukoil recommends final 2016 dividend of 120 roubles per share
Wednesday, 26 Apr 2017 03:50am EDT 

April 26 (Reuters) - Russia's Lukoil said on Wednesday::The board of directors has recommended a final 2016 dividend of 120 roubles ($2.13) per share, excluding the interim dividends of 75 roubles per ordinary share paid for the first nine months of 2016;.Considering the previously paid interim dividends, total dividends for 2016 amount to 195 roubles per share, a 10.2 percent increase compared to the previous year dividends of 177 roubles per share..The dividend record date is proposed to be July 10, 2017..  Full Article

Lukoil CEO and vice president sell shares worth $31.4 mln
Thursday, 22 Dec 2016 10:18am EST 

Lukoil says: Chief Executive Officer Vagit Alekperov and Vice President Leonid Fedun have sold Lukoil American Depositary Receipts (ADRs) worth $31.375 million; . The sale was conducted in two tranches of $15.625 million and $15.750 million each. (Reporting by Moscow Newsroom) ((vladimir.soldatkin@reuters.com; +7 495 775 12 42; Reuters Messaging: vladimir.soldatkin.thomsonreuters.com@reuters.net)).  Full Article

Russia's Lukoil CEO sees 2016 output flat at around 100 mln T
Thursday, 16 Jun 2016 05:03am EDT 

Russia's Lukoil CEO said: Sees company's 2016 oil production flat at around 100 million tonnes; . Sees oil prices at $60-70 per barrel after 2017. Further company coverage: [LKOH.MM] (Reporting by Moscow Newsroom) ((jack.stubbs@thomsonreuters.com; +44 2075 427 477; Reuters Messaging: jack.stubbs.thomsonreuters.com@thomsonreuters.net)).  Full Article

Moody's confirms NK Lukoil OAO corporate family rating, gives negative outlook
Tuesday, 26 Apr 2016 06:39am EDT 

NK Lukoil OAO:Says Moody's confirms NK Lukoil OAO corporate family rating at Ba1, gives negative outlook.  Full Article

NK Lukoil OAO recommends 2015 dividends
Monday, 25 Apr 2016 06:38am EDT 

NK Lukoil OAO:Board recommends 2015 dividends of 177 roubles a share.Proposes record date on July 12.  Full Article

NK Lukoil OAO - Bulgaria anti-monopoly watchdog raids more oil firms in fuel inquiry - Reuters News
Friday, 22 Apr 2016 10:05am EDT 

NK Lukoil OAO:Bulgaria's anti-monopoly watchdog said it had raided the offices of Eco Petroleum, part of Hellenic Petroleum, and Shell Bulgaria, owned by Royal Dutch Shell, in an investigation into possible cartel agreements - RTRS.Bulgarians complain of high fuel costs despite a plunge in global oil prices and a call by Prime Minister Boiko Borisov for the competition authority to speed up checks on the fuel sector."Employees of the Commission for Protection of Competition are carrying out surprise checks on site at the offices of Eco Bulgaria and Shell Bulgaria," the commission said in a statement on Friday.Eco and Shell both confirmed in separate statements that checks were being made place at their offices and said they were fully cooperating, but denied any wrongdoing.Eco Petroleum said the only reason it was included in the probe was that it is Bulgaria's fourth biggest fuel retailer.The companies being investigated are all members of the Bulgarian Petrol and Gas Association, which has said there are no cartel agreements between any of its members.The latest raids follow others earlier this month on the Bulgarian offices of Russia's Lukoil LKOH.MM and Romania's Rompetrol RORRC.BX.It has also launched a probe into the Lukoil Neftochim Burgas oil refinery over possible breaches of competition rules related to the sale of its fuels on the local market.  Full Article

NK Lukoil OAO - Bulgaria's anti-monopoly watchdog raids fuel retailers offices - Reuters News
Wednesday, 6 Apr 2016 12:00am EDT 

NK Lukoil OAO:Bulgaria's anti-monopoly watchdog raided the offices of two fuel retailers as part of an investigation into the country's only oil refinery and seven fuel retailers for possible cartel agreements to fix prices of petrol and diesel fuels. - RTRS."The Commission for Protection of Competition raided several offices of Lukoil and Rompetrol in the capital Sofia," the commission's spokesman said on Wednesday."Our goal is to try to collect as much evidence as possible." Lukoil and Rompetrol were not available for immediate comment.In February, the watchdog started investigating the Bulgarian units of Lukoil and Rompetrol as well as units of Royal Dutch Shell RDSa.L, OMV OMVV.VI, Hellenic Petroleum HEPr.AT, Nis Petrol and Bulgarian Petrol 5PET.BB.It has also launched a probe into the Lukoil Neftochim Burgas oil refinery regarding possible breaches of competition rules related to the sale of its fuels on the local market.The investigation followed complaints by Bulgarians over high fuel costs despite a plunge in global oil prices and a request by Prime Minister Boiko Borisov that the competition authority hasten checks on the fuel sector.The competition authority launched the full investigation after an analysis of the European Union country's fuel sector between 2013 and 2015.It found that the retail price policies of the seven companies were very similar and too slow to reflect falls in wholesale and production prices.  Full Article

Rosneft's Sechin says no plans to buy rival Lukoil

VERONA Russia's largest oil producer Rosneft has no plans to buy its rival Lukoil, the country's No.2 oil company, Rosneft CEO Igor Sechin told a news briefing on Thursday.