Oil and Industry

Energy 23-05-2019

The US isn’t protecting oil supplies from the Middle East, it wants to control prices as foreign policy

America’s extensive use of military and economic coercion in the Middle East and other oil-producing countries around the world reflects the US’s new position as an exporter of oil and liquefied natural gas, argues Robin Mills. Robin Mills is the...
Energy 22-05-2019

BP shareholders demand climate action, but reject calls for hard targets

An overwhelming vote in favour of climate action at BP's annual meeting yesterday (21 May) shows how activist investors have started to move the oil and gas industry. But it also showed the limits to their appetite for change.
Energy 16-05-2019

Iran seeks to prove it can disrupt oil and gas exports from Arab Gulf States

A recent attack on Saudi oil facilities west of Riyadh were designed to demonstrate Tehran’s ability to target all of the region’s oil and gas exports and raise exponentially the cost of military conflict for the US and its allies in the Gulf region, writes Hasan Alhasan.
Batteries 13-05-2019

What Daimler’s move on carbon-neutral cars says about the industry

Daimler, one of the world’s leading producers of premium cars and commercial vehicles, has announced new commitments to make its entire passenger car fleet carbon neutral by the close of 2039. This is the most ambitious timeline among any of the leading automakers and signals a rapid acceleration in the shift towards zero-carbon transport, writes Nigel Topping.

Iran and the US are inching toward war

There can be little doubt now that Iran and the US are inching toward full-scale war. All attempts by either to force a change in the other’s behavior have come to nothing. Conflict now seems inevitable, writes Dnyanesh Kamat.
Energy 02-05-2019

‘Freedom gas’: US opens LNG floodgates to Europe

US energy secretary Rick Perry will sign two export orders for liquefied natural gas (LNG) in Brussels today (2 May), in a move officials said will double America’s export capacity to Europe to 112 billion cubic meters per year as of 2020.
Climate change 30-04-2019

Methane: Europe’s chronic climate blind spot

Europe has long led the global charge against greenhouse gas pollution. But it has been chronically reluctant to address the climate impact of methane emissions from the oil and gas sector, writes Poppy Kalesi.
Energy 26-04-2019

Poland, Russia, Belarus and Ukraine to talk on polluted Russian oil

Representatives of Poland, Russia, Belarus and Ukraine will meet on Friday (26 April) in Minsk, the capital of Belarus, to discuss how to solve the problem of polluted Russian oil, Poland’s pipeline operator PERN said on Thursday night.
Climate change 12-04-2019

Exxon lobbyists allowed to keep EU access badges

The heads of political groups in the European Parliament have failed to reach a decision on whether to strip ExxonMobil lobbyists from their EU access badges, leaving some activists bitterly disappointed and others reflecting about future engagement with the oil and gas industry.
Global Europe 12-04-2019

Russia cashes in as European oil refiners pay for US sanctions

European refiners are paying the price for US oil sanctions on Venezuela and Iran as they scramble to replace the sour crude Washington has blocked from the global market with increasingly expensive Russian oil, trading sources said and data showed.
Climate change 09-04-2019

ExxonMobil misled the public. Now they’re trying to mislead the European Parliament

Last month, US oil giant ExxonMobil was invited by the European Parliament to testify publicly about the history of climate change denial. But instead of responding transparently, they tried behind the scenes to discredit the peer-reviewed research conducted by Harvard University researchers, writes Geoffrey Supran.

‘Historic breakthrough’: Norway’s giant oil fund dives into renewables

Norway’s $1tn oil fund, the world’s largest sovereign wealth fund, is to plunge billions of dollars into wind and solar power projects. The decision follows Saudi Arabia’s oil fund selling off its last oil and gas assets. EURACTIV's media partner, The Guardian, reports.
Climate change 23-03-2019

ExxonMobil faces EU Parliament ban after no show at climate hearing

ExxonMobil faces losing its lobby privileges at the European parliament after the company failed to show up for the first hearing into climate change denial. EURACTIV's media partner The Guardian, reports.
Energy 22-03-2019

Big oil’s ‘double speak’ on climate exposed in new report

The world’s five largest listed oil and gas companies have spent more than $1 billion touting their climate credentials since the Paris Agreement was signed, whilst lobbying to protect and expand their fossil fuel operations, according to new analysis published on Friday (22 March).
Energy 25-02-2019

Time for EU bank to comply with EU’s climate objectives

As the European Investment Bank (EIB) holds a meeting in Brussels today (25 February) to consult the public on its new energy policy, Wendel Trio reflects on the role the EU’s bank should have in tackling the climate crisis.

Renewable energy will be world’s main power source by 2040, says BP

Renewable energies will be the world’s main source of power within two decades and are establishing a foothold in the global energy system faster than any fuel in history, according to BP. The UK-based oil company said wind, solar and other...
Global Europe 15-01-2019

Snow crab case to decide who has the right to explore for Arctic oil

Norway’s Supreme Court will on Tuesday (15 January) hear arguments on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right to explore for oil in the region.
Energy 14-01-2019

UK revealed as EU champion of fossil fuel subsidies

The United Kingdom spends the most in the EU on subsidising fossil fuels, according to a new report by the European Commission, which also found that EU-wide payments have failed to decrease despite the bloc’s commitment to the Paris Agreement on climate change.
Energy 20-12-2018

Fact-check: Did EU gas liberalisation rules put Bulgaria’s national security at risk?

Bulgarian minister Temenuzhka Petkova has said her country preferred paying a multi-million euro fine rather than follow a Commission injunction. Such a reform, in her words, would have threatened the country's national security. EURACTIV checked the facts.

Embracing the power of cheap renewables to deliver a carbon exit

Green steel, green ammonium, green plastics, green aluminium and green shipping can be within reach in a world with renewables at 3$ct/kilowatt hour and a carbon price of $50+/ton CO2, with limited costs to the global economy, argue Auke Lont...
Agrifood 11-12-2018

IEA chief: Ethanol ‘very important’ to reduce oil dependence

Ethanol will have a very important role in decarbonising the transport sector globally, the executive director of the International Energy Agency (IEA) told EURACTIV.com. Another energy expert said electrification will play a major role in transport but is not applicable to all sectors, which is where biofuels come in.

How will oil producing countries meet the challenge of climate change?

As the United Nations COP24 gets underway in Poland, leading oil and gas players – countries and companies – are confronted with the challenge of mapping out their share of the new energy economy, writes Robin Mills.
Energy 13-11-2018

Spain targets 100% renewable power by 2050

Spain’s government has published a new climate plan that targets a 100% renewable energy electricity system by 2050, with goals that outstrip those adopted by the EU and a ban on new gas and oil exploration.
Energy 12-11-2018

European oil majors better prepared for energy transition than US, Chinese counterparts

Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.

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LUKOIL

LUKOIL is one of the largest publicly traded, vertically integrated energy companies in the World. The corporate mission of LUKOIL is to make the energy of natural resources serve the interests of mankind. Every day millions of consumers worldwide buy LUKOIL products, energy and heat, improving the quality of their life.

LUKOIL’s main activities are exploration and production of oil and gas, refining and marketing of petroleum products and petrochemicals, as well as power generation. In order to reduce environmental impact and make efficient use of resources, LUKOIL has developed renewable energy solutions including hydroelectric, solar and wind generation.

LUKOIL conducts its business in a responsible and sustainable way, seeking to strike a balance between socio-economic and environmental development by supporting communities, contributing to the economy and preserving the environment. The company stringently abides by the highest global environmental standards and shares the principles of the United Nations Global Compact ensuring high levels of occupational safety and health. 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 corporate governance system is based on international best practices and fully incorporates the principles of openness, regulatory requirements, fair competition, and transparency.

LUKOIL ordinary shares are admitted to the Moscow Exchange. LUKOIL depositary receipts are listed on the London and Frankfurt Stock Exchanges, as well as on the US OTC market.

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