print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line

Get updates

Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Oil Company "LUKOIL" press releases

Oil Company "LUKOIL"

June 6, 1997

LUKOIL has a General Shareholders Meeting in Moscow

6 June, 1997 - LUKOIL shareholders had their annual meeting in Moscow yesterday.

Last year saw the company's best performance in three years, LUKOIL president Vagit Alekperov told the shareholders. The net profit increased by 60% while the market capitalization grew from $3.2 billion to $9 billion. The reserves, production, refining and export expanded and new markets were tapped inside and outside Russia. The structural overhaul leading to the creation of a world class vertically-integrated oil company has proved to be the right strategy.

The meeting decided to pay dividends of 300 rubles per ordinary 25 ruble share and 1,000 rubles per preferred 25 ruble share. No dividends will be paid on unsold shares or those owned by the company. The profit that could be paid as dividends on these shares will be used to finance the replacement of obsolete equipment, the production expansion, nature conservation and research and development in oil production and refining and product supply.

The shareholders approved the maximum number of 10 million authorized preferred shares worth 250 million rubles which can be used to finance the Company's involvement in new or reorganized oil companies. It is with this number of declared shares in mind that the Company Board will make a decision on the issuance of shares and changing the Company's charter capital.

The Company Board elected at the meeting includes Vagit Yu. Alekperov, elected unanimously; Vadim Ye. Belov, deputy chairman of the State Anti-Monopoly Policy Committee; Mikhail P. Berezhnoi, director general of the LUKOIL-Garant Non-State Pension Fund; Valery I. Graifer, director general of the Russian Innovative Fuel and Energy Company; Vitaly A. Zelyonkin, deputy chairman of the State Property Committee; Anatoly G. Kozyrev, deputy fuel and energy minister; Sergei P. Kukura, LUKOIL first vice-president; Sergei A. Lobazov, president of the Nikoil oil investment company; Ravil U. Maganov, LUKOIL first vice-president; Ralif R. Safin, LUKOIL first vice-president; and Veniamin P. Sukharev, director general of LUKOIL-Permnefteorgsintez.



    1996 1995 1996 As % 1995
Financial data        
Net income bln rubles 3,842 2,404 160
  US$ mln 750 528 142
Net income per common share RR 5,915 3,701 160
  US$ 1.16 0.72 142
Share quotations (December)        
  • Common share
US$ 11.5 5.4 213
  • Preferred share
US$ 8.2 0.8 1025
Net revenues bln rubles 44,015 23,421 188
  US$ mln 8,595 5,144 167
Total assets, year end bln rubles 69,347 44,082 157
  US$ mln 12,472 9,500 131
Net income as % of net revenues % 8.7 10.3 84
Net income as % of total assets % 5.5 5.4 102
Operating data        
Crude oil production, Inc. joint ventures mln tons 58.5 57.3 102
  th. bbd/d 1,180 1,160 102
Refining runs at LUKOIL refineries mln tons 19.3 19.0 102
  th. bbd/d 384 380 101
Crude oil free export sales mln tons 16.5 18.4 90
Petroleum products export sales mln tons 4.5 2.3 196
Number of employees 000. 94.2 106.9 88




Press Centre  OAO "LUKOIL"
phone.: (095)927-1677,  fax: (095)927-1653,




Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index


Site Map
Privacy Statement | Disclaimer