Oil and Industry

Climate change 09-01-2018

Norway only liable for emissions produced within borders, court rules

Environmental groups have failed in their bid to prevent Norway from issuing exploration licences in the Barents Sea. A court did not agree that the decision breaches the Norwegian constitution, insisting it only applies to emissions produced within the country's borders. EURACTIV’s partner Journal de l’environnement reports.

Energy 20-12-2017

France to bid au revoir to oil and gas exploration by 2040

France’s parliament passed legislation on Tuesday (19 December) requiring all oil and gas exploration and production on French territories to end by 2040, the first time any country has taken such a step.

Energy 05-12-2017

Refiners accuse EU lawmakers of ‘bias’ towards electric vehicles

EU policy on vehicle emissions is biased towards electrification, the trade association FuelsEurope argued on Monday (4 December), as it presented a study suggesting that a gradual switch from diesel to zero-emissions cars would have almost no impact on urban air quality by 2030.

Energy 17-11-2017

World’s biggest sovereign wealth fund proposes ditching oil and gas holdings

The Norwegian central bank, which runs the country’s sovereign wealth fund – the world’s biggest – has told its government it should dump its shares in oil and gas companies, in a move that could have significant consequences for the sector. EURACTIV's media partner The Guardian reports.

Climate change 10-11-2017

Civic groups want international carbon tax on overseas polluters

EXCLUSIVE: EU companies investing in oil and gas extraction overseas can reap hefty profits but also threaten global carbon targets. In reaction, a number of civic groups have jointly proposed a carbon tax on products and income derived from overseas extraction.

Energy 02-11-2017

Oil exploration continues unabated in Europe, despite Paris goals

As world leaders prepare to meet for UN climate talks in Bonn, it may come as a surprise that firms are lining up to drill, at great expense, in Europe’s northern waters where output has peaked years ago.

Energy 20-10-2017

Juncker: No EU unity for Russia Nord Stream 2 talks

The European Commission on Thursday (19 October) said that despite a lack of unity among member states over Russia's plans for a new gas pipeline to Germany, it would press ahead to seek support for talks with Russia on its objections.

Energy 17-10-2017

‘Black gold’ rush to peak in 2030 thanks to rise of electric car

World petrol demand will peak within 13 years thanks to the impact of electric cars and more efficient engines, energy experts have predicted. EURACTIV's partner The Guardian reports.

Energy 10-10-2017

OPEC Secretary General urges US shale oil producers to help cap global supply

OPEC’s Secretary General Mohammed Barkindo today (10 October) called on US shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term.

Energy 03-10-2017

Giant Libyan oilfield closed as gunmen press demands

An armed group forced Libya’s massive el-Sharara oilfield to close late on Sunday (1 October), shutting off production of more than 230,000 barrels per day (bpd), the head of the state oil company said.

Climate change 03-10-2017

‘Thou shalt not burn coal’: Catholic institutions abandon fossil fuels en masse

Forty Catholic institutions from across the world will pull money out of fossil fuels this week, in the biggest single divestment made by religious institutions, including banks, universities and even the Italian town where Saint Francis of Assisi was born.

Energy 02-10-2017

Oil refiners warn increased CO2 costs could force them out of Europe

Petroleum refiners have teamed up with other energy-intensive industries to warn about EU plans to hike the cost of emitting carbon dioxide, echoing previous warnings about "carbon leakage" which critics say have failed to materialise.

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LUKOIL

25 Years of Sustainable Development

LUKOIL is one of the major international oil and gas companies that accounts for more than 2% of the world's oil production and around 1% of the proven hydrocarbon reserves. Every day millions of consumers in more than 30 countries worldwide buy LUKOIL’s products, energy and heat, improving the quality of their life.

While having the full production cycle, LUKOIL exercises full control over the whole production chain — from oil and gas production to petroleum product sales. LUKOIL's goal is to create new value, maintain high profitability and stability of its business, deliver high return on capital employed for its shareholders by increasing the value of the LUKOIL's assets and the payment of cash dividends.

To achieve these goals, LUKOIL shall use all available opportunities, including further efforts to reduce costs, increase the efficiency of its operations, improve the quality of its products and services and use new advanced technologies.

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

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

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