About PJSC LUKOIL

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas in Russia and internationally. Segments Exploration and Production This segment includes the company’s exploration, development and production operations related to crude oil and gas. The company’s activities are primarily located within Russia, with additional activities in Azerbaijan, Kazakhstan, Uzbekistan, the Middle East, Northern and Western Africa, Norway, Romania and Mexico. The company undertakes exploration for and production of crude oil and natural gas. In Russia, its major oil producing regions are Western Siberia, Timan-Pechora, Ural and Volga region. The company’s international upstream segment includes stakes in PSA’s and other projects in Iraq, Egypt, Ghana, Cote d’Ivoire, Cameroon, Nigeria and Mexico. Refining, Marketing and Distribution This segment processes crude oil into refined products, purchases, sells and transports crude oil and refined petroleum products, refines and sells chemical products, produces steam and electricity, distributes them and provides related services. The company owns and operates four refineries located in European Russia and three refineries located outside Russia – in Bulgaria, Romania, and Italy. It has a 45% interest in the Zeeland refinery in the Netherlands. The company owns two petrochemical plants in Russia and petrochemical capacity at its refineries in Bulgaria and Italy. Marketing and Trading The company markets its own and third-party crude oil and refined products through its wholesale and retail channels in Russia, Europe, South-East Asia, Central and North America and other regions. It purchases crude oil in Russia and on international markets. In Russia, the company primarily purchases crude oil from affiliated producing companies and other producers. Then the company either refines or exports purchased crude oil. Crude oil purchased on international markets is normally used for trading activities, for supplying its international refineries or for processing at third party refineries. In Russia, the company purchases refined products on occasion, primarily to manage supply chain bottlenecks. Refined products purchases outside Russia are either traded or supplied to its international refineries. The company undertakes trading operations on international markets through its 100% subsidiary LITASCO SA. Sales Channels The company supplies jet fuel to airports in and outside Russia. It supplies bunker fuel to sea and river ports in Russia. It produces motor oils at its refineries in Russia and undertakes motor oil blending and packaging in Russia and abroad. Power Generation The company owns commercial generation facilities in the Southern regions of European Russia. It also owns renewable energy capacity in Russia and abroad. Reserves As of December 31, 2016, the company’s proved reserves amount to 16,398 million barrels of oil equivalent and consisted of 12,482 million barrels of crude oil and 23,493 billion cubic feet of gas. Dispositions In February 2017, the company completed the sale of wholly owned subsidiary – LUKOIL Chemical B.V. (the Netherlands), which owns petrochemical plant Karpatneftekhim located in Ivano-Frankovsk area of Ukraine. History PJSC LUKOIL was founded in 1993.