The Lukoil Company

Paper Summary:

This paper discusses the establishment of the Russian Lukoil company and their entry into the North American market. The paper first explains the great strategic importance of petroleum and America's dependence on foreign oil. The paper then describes Lukoil's production in Western Siberia and then shows the competition in the American market. The paper points out that although Lukoil is a relatively new operation, the company has made significant strides in consolidating its operations in the US.

From the Paper:

"Lukoil resulted as a result of a decree from the Council of Ministers of the former Soviet State USSR on November 25, 1991. This decree was titled No.18. Lukoil was incorporated as a state-owned oil concern. The Russian term "LangepasUraiKogalymneft" was abbreviated to Lukoil. In 1992, with the opening and privatization of Russian markets becoming more commonplace, Lukoil became an open joint-stock company. Between 1992 and 2000, Lukoil got actively involved in many small ventures with local oil companies in the Eastern block countries (Kazakhstan, Azerbaijan, Romania & Ukraine) and soon ended up acquiring many of these interests."

Sample of Sources Used:

• BBC, 2000. Russia in first US corporate takeover. Accessed from the World Wide Web on May 20, 2007 http://news.bbc.co.uk/1/hi/business/1005160.stm
• Lukoil, 2007. General Information. Accessed from the World Wide Web on May 20, 2007 http://www.lukoil.com/static_6_5id_29_.html
• Lukoil, 2007. Exploration. Accessed from the World Wide Web on May 20, 2007 http://www.lukoil.com/static_6_5id_253_.html
• Mosnews, 2005. Russia's Lukoil to Modernize Oil Terminal in New Jerseyhttp://www.mosnews.com/money/2005/01/24/lukoilterminal.shtml
• Hoyos, Carola 2007 The new Seven Sisters: oil and gas giants dwarf western rivals. Published in the Financial Times, March 11, 2007. Accessed from the World Wide Web on May 20, 2007 http://www.ft.com/cms/s/471ae1b8-d001-11db-94cb-000b5df10621.html

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