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LUKOIL ENDORSES WORLD BANK INITIATIVE ON ZERO FLARING OF ASSOCIATED PETROLEUM GAS BY 2030

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In his letter to the heads of the World Bank and of the European Bank for Reconstruction and Development, LUKOIL President Vagit Alekperov wrote that the company’s strategic objectives were clearly in line with the principles proclaimed in the initiative, while the commitments and targets therein had the company’s full support.   “In its activities, LUKOIL is strongly committed to the principles of sustainable development, aiming to ensure a good balance between socio-economic and environmental development. In the last 12 years, LUKO... Read More »

Gazprom to take part in building Northern Latitudinal Railway

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The project envisages the establishment of direct communications between the Severnaya and Sverdlovskaya railroads along the Obskaya – Salekhard – Nadym – Pangody – Novy Urengoy – Korotchaevo route in the Yamal-Nenets Autonomous Area. The NLR will be 707 kilometers long and will have the annual tonnage capacity of about 24 million tons of cargo. Enlarged photo (JPG, 2 MB) The project has significant public importance, as it will give an impetus to economic and social development in the Russian Arctic. The Yamal-Nenets Autonomous A... Read More »

Credit Agricole CIB to provide EUR 700 million loan to Gazprom

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The agreement was signed on behalf of Gazprom by Andrey Kruglov, Deputy Chairman of the Company's Management Committee, and on behalf of Credit Agricole CIB by Regis Monfront, Deputy Chief Executive Officer of Credit Agricole CIB, and Erik Koebe, President of Credit Agricole CIB AO (Russia). Credit Agricole CIB will provide Gazprom with a five-year EUR 700 million loan. Background Credit Agricole Corporate & Investment Bank is a corporate and investment subdivision of the Credit Agricole Group, Europe's second-largest banking network i... Read More »

LUKOIL AND RUSSIAN DEFENSE MINISTRY SIGN AGREEMENT ON SUPPORT OF ALEXANDROV SONG AND DANCE ENSEMBLE

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The document provides, in particular, that LUKOIL will offer financial assistance in rebuilding the creative potential of the Alexandrov Song and Dance Ensemble of the Russian Army. The group's facilities and equipment will be upgraded, new sound amplifiers, musical instruments, playback equipment and specially designed hardware will be purchased, while the ensemble's concert venues will be renovated and artistically redesigned. LUKOIL's funding will go to support new talents of the iconic Alexandrov company and to assist the families of ... Read More »

Alexey Miller briefs Vladimir Putin on Gazprom’s performance in 2016

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Alexey Miller briefed Vladimir Putin on the Company’s performance in 2016, focusing on gas production, domestic supplies and exports, and the implementation of the Russian Regions Gasification Program. The meeting also touched on gas deliveries to consumers in the current autumn/winter period and the development of the Yamal gas production center and the northern gas transmission corridor. Vladimir Putin and Alexey Miller. Photo by www.kremlin.ru Enlarged photo (JPG, 204 KB) Gazprom website Editorial Board Shorthand record Vladimir Putin... Read More »

Gazprom’s financial information under International Financial Reporting Standards (IFRS) for the nine months ended September 30, 2016

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The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the nine months ended September 30, 2016 and for the nine months ended September 30, 2015. All amounts are presented in millions of the Russian Rubles.   Nine months ended September 30,   2016 2015 Sales 4,321,364 4,206,217 Net gain from trading activity 71,159 8,320 Operating expenses (3,824,703) (3,171,784) Operating profit 567,820 1,042,753  ... Read More »

LUKOIL: FIRST MILLION TONS OF OIL AT FILANOVSKY FIELD

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Having already commissioned three horizontal sidetracked wells, the company is now constructing the fourth one. Alongside, facilities of the field’s second phase of development are being built: an offshore ice-resistant fixed platform (IRP-2) and a living quarter platform (LQP-2). The substructures were taken to the sea and installed at prescribed points. The annual planned production level is estimated at 6 million tons of oil. ... Read More »

Gazprom and Russian pipe producers to adopt formula pricing for pipe fittings

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The additional agreements were signed by Alexey Miller, Chairman of the Gazprom Management Committee, Anatoly Sedykh, Chairman of the Management Board, United Metallurgical Company (OMK), Andrey Komarov, Member of the Board of Directors, Chelyabinsk Pipe Rolling Plant, and Alexey Mordashov, Chairman of the Board of Directors, Severstal. From left to right: Alexey Mordashov, Ivan Shabalov, Alexey Miller, Anatoly Sedykh, and Andrey Komarov Enlarged photo (JPG, 679 KB) The pricing formula for pipe fittings will be used starting January 1, 201... Read More »

‘Moscow Oneway Special Fare’ Celebrates Launch Of THAI Flights To Russian Capital

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Thai Airways International will resume flights from Bangkok to Moscow in mid-December 2016 and is offering the 'Moscow Oneway Special Fare' to mark the occasion. The service linking the Thai and Russian capitals will commence on 15 December, making Moscow THAI's 12th destination in Europe. The 'Moscow Oneway Special Fare' is valid for travel departure from 15 December to 31 December 2016, with ticketing open from now until 31 December 2016. The fare starts from THB 9,780 (including airport tax) one way per passenger. Don't wait too lon... Read More »

LUKOIL ANNOUNCES CONSOLIDATED IFRS RESULTS FOR THE THIRD QUARTER AND NINE MONTHS OF 2016

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Financial highlights 3Q 2Q   9M 9M 2016 2016 (million rubles) 2016 2015         1,309,488 1,338,959 Sales 3,826,121 4,381,324 165,890 189,571 EBITDA*  547,453 630,418 160,436 182,681 EBITDA* excluding West Qurna-2 513,615 523,058 54,803 62,567 Profit attributable to LUKOIL shareholders 160,195 356,172 120,615 118,886 Capital expenditures i... Read More »

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