Lukoil
 

Heute in der Analystenbetrachtung der Eas: Lukoil!

Die Mehrzahl der Analysten sieht weiter gute Chancen, der Gewinn dürfte weiter gesteigert werden.
Kurspotential 20 % - Riskant!

die lukoil scheint jetzt den boden gefunden zu haben.
man muss sich bei dieser aktie überlegen, dass die gewinn ab einem ölpreis von ca. 9$ machen
jetzt liegt der ölpreis bei ca. 40$

http://node.finam.ru/imcf3.asp?id=91...rr=0&mar=8&e=1

30.07.2004
ABN-Hebelprodukte auf Lukoil, Norilsk, Gazprom, Öl...
ABN emittiert Turbos und Warrants auf Aktien und Rohstoffe
Die Turbos und Optionsscheine weisen folgende Eckdaten auf:


SIN/Zertifikat-Name/Basispreis/SL-Marke/Ref.Whg/BezV/Fälligkeitstag
NL0000413102/Brent Crude Oil MINI Short/50/45/US-Dollar/1:1/open end
NL0000413110/Brent Crude Oil MINI Short/54/48,6/US-Dollar/1:1/open end
NL0000413177/DAX MINI Long/3770/3830/Euro/100:1/open end
NL0000413144/EUR/JPY MINI Long/128,00/130,60/Japanischer Yen/1:100/open end
NL0000413151/EUR/JPY MINI Short/140,00/137,20/Japanischer Yen/1:100/open end
NL0000412724/Gazprom Call/35//Euro/10:1/26.01.2006
NL0000412732/Gazprom Call/40//Euro/10:1/26.01.2006
NL0000412757/Lukoil Call/120//Euro/100:1/26.01.2006
NL0000412765/Lukoil Call/130//Euro/100:1/26.01.2006
NL0000412773/Lukoil Put/90//Euro/100:1/26.01.2006
NL0000413169/Norilsk Nickel MINI Long/35,00/40,3/Euro/10:1/open end

Russland will verbliebenen Lukoil-Anteil für 1,26 Mrd Dollar verkaufen


MOSKAU (dpa-AFX) - Die russische Regierung will ihren verbleibenden Anteil am Ölkonzern Lukoil von 7,59 Prozent für mindestens 1,26 Milliarden Dollar verkaufen. Der Verkauf der 64,6 Millionen Aktien soll bis Ende nächsten Monats erfolgen, teilte die für die Beteiligungsverwaltung des Staates zuständige Behörde am Mittwoch in Moskau mit.

Daraus würde sich ein Preis von 19,59 Dollar pro Aktie ergeben. Das bedeutet einen Abschlag von 30 Prozent zum Schlusskurs vom Dienstag. Die Lukoil-Aktie verlor am Mittwoch bis 11.30 Uhr 1,3 Prozent auf 26,65 Dollar./hosbo/cs/mw



© dpa - Meldung vom 04.08.2004 12:29 Uhr

06.08.2004
LUKoil "buy"
Renaissance Capital

Die Analysten vom Investmenthaus Renaissance Capital stufen die Aktie von LUKoil (ISIN US6778621044/ WKN 899954) unverändert mit "buy" ein und sehen das Kursziel bei 142,4 USD je ADR.

http://www.aktiencheck.de/charts/isi...n=US6778621044

Einem Bericht von Reuters zufolge, habe die Regierung einen Minimumpreis von 1,26 Mrd. USD für den verbliebenen Anteil an LUKoil in Höhe von 7,6% festgesetzt. Die Preisfestsetzung sei jedoch nur eine Formalität gewesen, da sie auf dem Buchwert der Assets basiert habe, der momentan ca. 25% unter dem derzeitigen Aktienkurs rangiere.

ConocoPhilips scheine die größten Chancen zu haben den Anteil zu akquirieren. Die Regierung habe jüngst mitgeteilt, dass ein Verkauf im dritten Quartal erfolge.

Vor diesem Hintergrund bleiben die Analysten von Renaissance Capital für die LUKoil-Aktie bei ihrer Kaufempfehlung.

Friday, August 13, 2004. Page 5.

LUKoil Puts Assets in Financial Group

By Eduard Gismatullin
Bloomberg

Vedomosti


http://www.themoscowtimes.com/photos...13/fedun_2.jpg
Leonid Fedun


The decision by LUKoil to unload non-oil assets has helped to set up IFD Kapital, a new group with $3 billion in assets that will sell financial services such as insurance as a six-year economic boom boosts incomes for many of the nation's 145 million people.

LUKoil, which pumps a fifth of Russia's crude, has been selling its banking, brokerage and insurance businesses to cut operating costs and focus on oil extraction. IFD Kapital, which plans to become one of the leaders on the domestic market, is chaired by Leonid Fedun, LUKoil's deputy chief executive.

"LUKoil's former assets have been merged into one company," Fedun said in a telephone interview. "I joined the new structure as in the past I participated in establishing" these former LUKoil units.

LUKoil last year temporarily lost its rank as Russia's biggest oil producer to Yukos, intensifying criticism from investors who were concerned at LUKoil's slower production growth and higher operating costs when compared to competitors. In 2002, LUKoil decided to sell units not involved in oil pumping or marketing to increase annual profit by $500 million as soon as this year.

"If cash goes into the company from assets sales at fair prices, that's positive for investors," said Oleg Maximov, an analyst at Troika Dialog, which has a "buy" recommendation on LUKoil. "It's positive that LUKoil gets rid of noncore assets and is able to control costs and increase production."


IFD Kapital will compete with Uralsib and Alfa Group, which provide a wide range of financial services including insurance, along with some other local financial companies.

The group "will be one of the leading integrated financial groups on the Russian market, offering clients the whole range of services," Boris Krasnyansky, IFD Kapital's chief executive, said in an interview.

IFD Kapital emerged early last year after it took over LUKoil's insurance business. In April 2003 it agreed to buy LUKoil-Reserve-Invest, the oil producer's brokerage, an acquisition that was completed in January of this year, according to the financial group's web site. IFD Kapital also is managing LUKoil-Garant, a pension fund.

In June, LUKoil agreed to sell to IFD Kapital for more than $200 million its majority stake in Bank Petrocommerce, which had at that time $1.7 billion in assets and $260 million of its own capital.

The bank purchase gives "a significant impulse for further development," Krasnyansky said in his Moscow office, which is about two kilometers from the walls of the Kremlin. "This will create a full-scale financial group."

IFD Kapital had $1.2 billion in assets and $560 million of capital as of April 1, according to Krasnyansky. The group's companies reported combined 2003 net income of $240 million.

IFD Kapital is fully owned by close-end mutual fund Strategic Investments, which is managed by Management-Center, Krasnyansky said. IFD Kapital is preparing a consolidated financial report for 2004 under international accounting standards, where it may disclose some beneficiaries, according to the accounting rule requirements. Management-Center has not disclosed the owners of Strategic Investments.

"Owners of the mutual fund have no influence on IFD Kapital," Fedun said, refusing to disclose whether he is a shareholder in the fund. "Management-Center is independent and is not linked to LUKoil managers."

"There is possibly some degree of affiliation between IFD Kapital and LUKoil which they don't want to disclose," said Ivan Mazalov, who manages $550 million in Russian assets at Prosperity Capital Management in Moscow.

Quelle: themoscowtimes

LUKoil announces auction for Arktikneft



RBC, 18.08.2004, Moscow 12:36:48.LUKoil announced terms of the auction for ZAO Arktikneft (Kolguyev, the Nenets Autonomous Region). The oil company will accept bids until October 8, 2004. Investors can request tender documentation until September 3, 2004. LUKoil will announce the winner within two weeks following the bid submission deadline. The company reserves the right to declare the auction null and void without explanation. A bidder offering the highest price for the item sold will be declared the winner.

On August 17, LUKoil's management decided to sell the company's 100 percent stake in ZAO Arktikneft. This was part of the Strategic Development Program through 2013, aimed at production cost reduction, asset optimization and higher investment returns.

Lukoil Management System Is OK

23.08.2004 8:28
LUKOIL Overseas and its subsidiary LUKOIL-Perm have acquired certification on the management system compliance with international standards ISO 14001:1996 (environmental management systems) and OHSAS 18001:1999 (occupational health and safety management systems).

The sphere of certification includes: all kinds of drilling, production, preparation, transportation, transshipment of oil, oil products, natural and associated gas, gas condensate. The certificates are given for 3 years.

A competent international agency Bureau Veritas has completed the certification audit and certification procedure. Next year certification audit is to take place in foreign subsidiary units and affiliates.


Quelle: Neftegaz.ru

Tuesday, August 24, 2004. Page 6.

Mysterious Buyer Eyes LUKoil Sale

The Moscow Times The state's 7.59 percent stake in LUKoil, slated for sale this fall, appears to have a new potential buyer.

David Guggenheim, a U.S. businessman, has approached the government expressing an interest to purchase the stake, Vedomosti reported Monday.

The stake is due to be sold before the end of next month, although the government has yet to make a formal announcement of the auction and the starting price, which could well exceed $2 billion.

ConocoPhillips has been widely seen as a favorite to acquire the last chunk of LUKoil still owned by the state.

The Federal Property Agency, LUKoil and ConocoPhillips all declined to comment on the newspaper report.

Guggenheim could not be found Monday. Vedomosti reported that Guggenheim may be related to the famous art patron family.

But a spokeswoman for the Solomon R. Guggenheim Museum in New York, which also handles the Guggenheim family's public relations, said Monday that David Guggenheim was not a member of the family.

Lyudmila Grossman, who introduced herself as a representative of David Guggenheim, confirmed in a telephone interview that he is interested in the stake. Guggenheim is a prominent investor who avoids the limelight and has not invested in Russia before, she said.


Grossman declined to name other investments by David Guggenheim.

"We will go public about our intentions, but not now," she said.

According to Vedomosti, a number of government bodies, including the Economic Development and Trade Ministry and the Industry and Energy Ministry, received letters from Guggenheim offering to buy the stake in LUKoil.

Lukoil Overseas eröffnete Büro in Teheran zur Koordinierung geologischen Projekts im Westen Irans


Die Gesellschaft Lukoil Overseas Anaran Ltd, Tochtergesellschaft der russischen Ölgesellschaft Lukoil, hat jetzt ein Büro in Teheran eröffnet. Das Hauptziel des Büros wird in der Koordinierung der geologischen Schürfarbeiten im Rahmen des Anaran-Projekts im Westen Irans bestehen.

Das Projekt wird gemeinsam von der norwegischen Gesellschaft Norsk Hydro (75 Prozent) und Lukoil Overseas (25 Prozent) realisiert. Der Vertrag über die Aufnahme von Lukoil Overseas ins Projekt wurde am 14. Februar 2003 unterzeichnet. Nach der Billigung des Vertrags durch die Nationale Iranische Ölgesellschaft (NIOC) am 26. September 2003 trat dieser in Kraft.

Es handelt sich um Ölressourcen, die auf rund 900 Millionen Barrel geschätzt werden. Derzeit wird die erste Erkundungsbohrung niedergebracht. Als Auftraggeber agiert NIOC. (RIA)

------------------------------------------------------------------------------------

"Vedomosti": Preis für Lukoil-Regierungsanteil bei 1,928 Mrd USD


MOSKAU (Dow Jones-VWD)--Die russische Regierung wird einem Zeitungsbericht zufolge den Anfangspreis für einen Verkauf des verbleibenden 7,59-prozentigen Anteils an der OAO Lukoil mit 1,928 Mrd USD festlegen. Dies berichtet die Zeitung "Vedomosti" am Donnerstag unter Berufung auf Regierungskreise. Die Summe bedeute einen Preis von 29,80 USD je Aktie, was einem Aufschlag von 6% auf den Schlusskurs von Lukoil vom Mittwoch entspreche. Als Favorit für den Anteilserwerb werde die ConocoPhillips Inc gesehen.
Dow Jones Newswires/11/26.8.2004/chr/mi

26.08.2004, 10:14

ConocoPhillips seen eyeing 25% of Lukoil

By CBS MarketWatch
Last Update: 7:02 AM ET Aug. 27, 2004


SAN FRANCISCO (CBS.MW) -- ConocoPhillips is viewed as most likely to place the highest bid for a 7.6 percent stake in Russian oil giant Lukoil, according to a published report.

The Russian government set a starting price of $1.93 billion for its remaining interest in Lukoil, the Wall Street Journal reported. The stake goes up for auction next month.

Houston-based ConocoPhillips (COP: news, chart, profile) has been negotiating with Lukoil for more than a year over buying the stake in Russia's largest oil company as part of a broader deal, the Journal said, citing people close to the situation.

In June, the Financial Times reported that ConocoPhillips was in talks to acquire a 25 percent stake in Lukoil for $5.75 billion.

On Friday, Reuters also pointed out ConocoPhillips' plans for a larger stake, citing an industry source familiar with the matter.

The source said Conoco was looking to buy extra Lukoil shares on the market after the government disposes of the 7.6 percent stake during the auction, scheduled for Sept. 29, according to Reuters.

Attention on Lukoil has sharpened as a result of the recent spike in prices for crude oil, not to mention the tax problems and fraud allegations that continue to swirl around another major Russian oil company, Yukos.

James Mulva, the CEO of ConocoPhillips, and his Lukoil counterpart, Vagit Alekperov, met last month with Russian President Vladimir Putin and emerged with the Kremlin's support, according to the Journal.

The head of Russia's Federal Property Fund, Kirill Tomashchuk, said ConocoPhillips had expressed a firm intention to bid, as had U.S. investor David Guggenheim, according to the Journal.

In January, ConocoPhillips sold 795 retail outlets in New Jersey and Pennsylvania to Lukoil for $266 million. Some 2,000 of Lukoil's 4,700 service stations are in the United States, primarily the Northeast.

The 7.6 percent stake would be part of a broader deal under which ConocoPhillips and Lukoil would form a 50-50 joint venture to develop oil reserves in Russia's northwest region, the Journal reported, citing people familiar with the situation.

Lukoil would primarily contribute assets, such as development licenses, according to the Journal, while ConocoPhillips' share would be mostly financial. ConocoPhillips also has negotiated special protections for its rights as a minority shareholder in Lukoil and could add to its stake in the future, the Journal said.

The auction starting price values Lukoil at $29.83 a share, the Journal reported, and bidders would have to pay a deposit of $15 million to participate.

Shares of ConocoPhillips ended Thursday's session at $72.70, up 64 cents.

Russland eröffnet Bieterverfahren für Lukoil-Beteiligung

Wien,30-08-04
http://www.aon.at/jet2web/FE/Primary...2035424,00.jpg

Russland hat am Montag das Bieterverfahren für den im Staatsbesitz verbliebenen Anteil von 7,6 Prozent am Ölkonzern Lukoil eröffnet. Die staatliche Vermögensverwaltung gab in einer Anzeige in der Wirtschaftszeitung "Wedemosti" bekannt, Gebote könnten bis zum 27. September eingereicht werden. Die Zuteilung wird demnach für den 29. September angestrebt.

Experten schätzen den Wert der Beteiligung auf annähernd zwei Mrd. Dollar. Im Erfolgsfall wäre dies die größte Privatisierung in Russland. Als wahrscheinlichster Käufer des Lukoil-Anteils gilt der drittgrößte US-Ölkonzern ConocoPhillips. Als möglicher Mitbieter wird auch die in New York ansässige Firma Dabir Investments von David Guggenheim gehandelt.

Reuters hatte am Freitag aus Branchenkreisen erfahren, Conoco wolle nach der Auktion seinen Anteil an Lukoil auf bis zu 25 Prozent erhöhen, was es dem US-Unternehmen ermöglichen würde, Milliarden von Barrel an Rohölreserven in seine Bücher aufzunehmen.

(apa)

30.08.2004
LUKoil "buy"
ATON Capital Group

Die Analysten von ATON Capital Group stufen die Aktie von LUKoil (ISIN US6778621044/ WKN 899954) unverändert mit "buy" ein und bestätigen das Kursziel von 146,4 USD je ADR.

ConocoPhilips plane den Anteil an LUKoil nach dem Kauf des 7,6%igen Anteils der Regierung auf 20% zu erhöhen. Der Schritt würde es ConocoPhilips erlauben einen Teil der LUKoil-Gewinne in der konsolidierten Bilanz zu verbuchen und die Öl- und Gasreserven um mehr als 50% zu erhöhen. Zudem könnte das Unternehmen interessiert sein weitere 5% zu erwerben, womit der Status einer Sperrminorität erreicht würde.

Ein Teil der Aktien könnten vom LUKoil-Management bezogen werden. Dieses habe jedoch bestätigt nicht daran interessiert zu sein die Beteiligung zu verringern. Insofern könnte ConocoPhilips gezwungen sein am Mark zu kaufen, was den Aktienkurs extrem unterstützen würde.

Die Nachricht von dem Interesse an einer größeren Beteiligung sei klar positiv, obwohl schon bereits damit gerechnet worden sei, dass der 7,6%ige Anteil an LUKoil ConcoPhilips nicht reichen werde. Zudem sei dies ein wichtiger Vertrauensbeweis für den Markt, dass ausländische Unternehmen trotz der Yukos-Krise an russischen Öl- und Gasunternehmen Interesse haben.

Vor diesem Hintergrund bekräftigen die Analysten von ATON Capital Group ihre Empfehlung die LUKoil-Aktie zu kaufen.


Quelle: aktiencheck

PRESS-RELEASE
03.09.2004
THE BOARD OF DIRECTORS OF OAO LUKOIL SUMMED UP THE RESULTS OF THE COMPANY OPERATING ACTIVITIES FOR THE FIRST HALF OF 2004
The OAO LUKOIL Board of Directors meeting took place today in Moscow to sum-up the results of the Company’s operating activities for the first half of 2004.

For the first 6 months of 2004 the reserves increase amounted to more than 60 million toe. Three oil fields, one gas condensate field together with five oil deposits at previously discovered properties have been discovered on the Russian territory as a result of the geological research. The Company actively continued to expand its resource base outside Russia. It allowed to double international resource base of the Group up to 680 million toe.

Crude oil output of the LUKOIL Group, including its interests in PSA projects, totaled 42.31 million tons, including those in Russia – 40.69 million tons (including the Group’s share of production by affiliates), which is 8.9 % up against production level in the first half of 2003. Total gas production exceeded 3.1 billion m³ - 12.9% up compared to the same period of the previous year. Compared to the first half of 2003 the Company managed to increase its average daily production of crude by 6.6%, its average well yield – by 12.8% and to reduce water cut by 0.9 %.

Throughput at Company’s refineries in the reporting period totaled 21.1 million tons, including 17.4 million tons processed at domestic refineries and 3.7 million tons processed at Company’s refineries abroad. Total amount of refined products rose by 2.9% in comparison with the first half of 2003. LUKOIL share in overall oil refining in Russia reached 19.3%. It represents a 0.6% increase in comparison with the same period of the previous year. The Company provided an optimum utilization of Russian refining capacities to ensure regular supplies of oil products to Russian consumers. The Company’s petrochemical plants processed 1.1 million tons of pyrolysis crude which is 13% more than had been planned.

During the first half of the current year gas processing plants of the Company refined 1.3 million tons of natural gas which is 7% more than had been planned.

The export share in overall oil supplies exceeded 50% and the export volumes increased by 21% compared to the first half of 2003.

Over the reporting period 7.4 million tons of oil products were supplied to the domestic market through the Russian oil product suppliers (0.4 million tons more compared to the first half of 2003). LUKOIL sold 3.5 million tons of oil products at the international market.

The Board of Directors also discussed the issue of proven and partially discovered oil and gas reserves of the Company. LUKOIL occupies a leading position among the largest Russian and international companies in terms of recoverable reserves under Russian classification and in terms of proven hydrocarbon reserves according to international classification.

The Company makes considerable investments in geological exploration of the new regions in Russia, which provide an alternative to the old ones, where the resource base has been considerably exhausted.

The new regions such as the Russian sector of the Caspian Sea and Nenets and Yamal-Nenets Autonomous Districts possessing rich hydrocarbon potential have recently expanded the geography of the Company’s activity.

The Company discovered a new oil bearing area in the Caspian region. Within extremely short time LUKOIL has carried out a large amount of exploration work. The results thereof confirmed high perspectives of the Russian Caspian sector and also ensured discovery of 5 large, high-yield oil and gas fields. The Company’s activity in Timan-Pechora oil-bearing province resulted in discovery of new reserves and start-up of the commercial development in this region.

The results of geological exploration for the last 3 years allow to say that LUKOIL actually solves overall federal issues in terms of the country’s resources recovery, strengthening of fuel and energy sector and Russia’s economy development. The Company’s share in Russia’s overall oil reserves growth in terms of geological exploration reached approximately 20%.

When assessing the Company’s reserves it is crucial to confirm that they are well explored and have economic significance and value according to international standards. That is essential due to the changes in the Russian Mining Law and the fact that the Company is listed at international stock exchanges.

Therefore in 1995 LUKOIL was the first one among Russian companies to start an independent audit of reserves according to international standards. All the reserves audit procedures, carried out by “Miller & Lents” according to international standards and in compliance with SPE demands confirmed evaluation of Company’s oil and gas reserves. Total proven, probable and possible reserves practically correspond to the volume of reserves as per Russian classification ABC1+C2. It proves the fact that Russian and international methods of geological reserves calculation are similar.

Since 1998 oil and gas reserves calculations and all the operational documents for field development are based on 3-D models. Modern 3-D simulation technology used by the Company in geology and field development allows to evaluate its feedstock and to obtain highly reliable data. As far as the exploration activity continues and the new technology is being applied, oil recovery will be enhanced and all the commercial hydrocarbon reserves of ABC1-type will be moved to the proven reserves category.

This information is based on preliminary production data, which may be adjusted and corrected during preparation of LUKOIL financial accounts for the first half of 2004. So there may be divergences from production statistics, which will be published together with the financial accounts.

LUKOIL verkauft LUKOIL-Bureniye für 130 Mio USD


MOSKAU (Dow Jones-VWD)--Die OAO LUKOIL, Moskau, verkauft ihre Tochter LUKOIL-Bureniye für 130 Mio USD an die Eurasia Drilling Co. Sie habe von den potenziellen Käufern die besten Bedingungen geboten, teilte LUKOIL am Montag mit.
(ENDE) Dow Jones Newswires/12/6.9.2004/mi/jhe

06.09.2004, 15:10

LUKOIL zahlt im 1. Halbjahr 3,4 Mrd USD Steuern

MOSKAU (Dow Jones-VWD)--Die OAO LUKOIL, Moskau, hat im 1. Halbjahr 3,4 Mrd USD Steuern gezahlt. Wie der Ölkonzern am Mittwoch mitteilte, nahm die Steuerlast gegenüber dem Vorjahr um 650 Mio USD zu. Der Konzern begründete die gestiegene Steuerzahlung mit den so genannten Rohstoff-Steuern, die der Konzern zu entrichten hat. Die Steuer pro geförderter Tonne Öl sei in US-Dollar umgerechnet um 29% gestiegen, hieß es. Steuerrückstände von LUKOIL gebe es nicht, hieß es von Seiten der Behörden.
(ENDE) Dow Jones Newswires/8.9.2004/DJN/apr/bb

08.09.2004, 10:43

Lukoil CEO: Hasn't Discussed Stake Sale To ConocoPhillips


09-20-04 12:53 PM EST
BAKU, Azerbaijan (Dow Jones)--The chief executive of OAO Lukoil Holdings ( LKOH.RS), Vagit Alekperov, said Monday that the company hasn't yet discussed the possibility of selling a stake in Lukoil to ConocoPhillips (COP).

"For the time being, there is no discussion of a purchase by ConocoPhillips," said Alekperov.

Media reports said U.S. oil major ConocoPhillips not only plans to win the privatization auction for a 7.6% stake in Lukoil, but plans to increase its stake to at least 20%.

Alekperov tried to play down the buy rumors, saying their validity will be seen after the results of the privatization tender.

"The results of the (privatizations) tender will be available on Sept. 29, so we will see then who wins," said Alekperov.

Company Web site: http://www.lukoil.ru

-By Aida Sultanova and Anna Ivanova-Galitsina, Dow Jones Newswires; 7095-974- 8055; anna.galitsina@dowjones.com


Dow Jones Newswires
09-20-04 1253ET

Lukoil verbucht Überschussrückgang im 2. Geschäftsquartal - Umsatz steigt

MOSKAU (dpa-AFX) - Der russische Mineralölkonzern Lukoil hat im zweiten Geschäftsquartal einen Gewinneinbruch vermeldet. Der Überschuss sei wegen veränderter Buchführung und Sondereffekten im Vorjahresquartal von 1,54 Milliarden auf 877 Millionen US-Dollar (715 Mio Euro) gesunken, teilte das Unternehmen am Montag mit. Der Umsatz stieg den Angaben zufolge von 5,08 Milliarden auf 7,96 Milliarden Dollar. Lukoil hatte im Vorjahr seinen Anteil am Azeri-Chirag-Guneshli-Feld in Aserbaidschan für 1,13 Milliarden Dollar verkauft.

Die günstigen Preisbedingungen und Verbesserungen bei der Kostenkontrolle hätten den Gewinn im ersten Halbjahr gleichwohl gefördert, berichtete das Unternehmen weiter. Negativ hätten sich das erhöhte Steueraufkommen, die Aufwertung des Rubels gegenüber dem US-Dollar und ein Anstieg der Transportkosten ausgewirkt./FX/kp/tb/sk

© dpa - Meldung vom 27.09.2004 14:52 Uhr

Tabelle: OAO Lukoil Holdings - 2. Quartal

Russland versteigert heute Milliarden-Anteil am Ölkonzern Lukoil
Wien,29-09-04

http://www.aon.at/jet2web/FE/Primary...2042009,00.jpg

Beim größten Privatisierungsgeschäft seit Jahren versteigert der russische Staat heute, Mittwoch, seinen Restanteil von 7,59 Prozent am Ölkonzern Lukoil. Der festgesetzte Einstiegspreis beträgt 1,928 Mrd. Dollar (1,563 Mrd. Euro) bzw. 29,83 Dollar je Aktie.

Bisher stehen drei Bieter fest, darunter der US-Konzern ConocoPhillips sowie die New Yorker Firma Dabir Investments von David Guggenheim . ConocoPhillips könnte bei einer Ersteigerung des Aktienpakets seinen Lukoil-Anteil nach Medienberichten auf 20 Prozent erweitern.

(apa)

Russia’s Lukoil Stake Sold to ConocoPhillips for $1.988Bln
Created: 29.09.2004 13:21 MSK (GMT +3), Updated: 13:56 MSK, 34 minutes ago
http://www.mosnews.com/files/4536/luk-con.jpg
MosNews

The Russian authorities have concluded the auction where the state’s 7.59 percent stake in Lukoil Oil Company was sold. Spring Holdings Ltd, which represented the interests of U.S. oil company ConocoPhillips.

Overall the authorities admitted three participants to the auction. As MosNews reported on Tuesday, September 28, four bids were submitted to the auction commission. However one of the bidders did not submit the relevant documents proving that it paid the security deposit of 450 million rubles ($15.4 million). As was forecasted the commission denied the bidder a right to participate in the auction. The bidders who were admitted to take part in the trading were Spring Holdings Ltd, commercial bank Promsvyazbank and closed joint-stock company Promregion Holding. The bidding was started by Promsvyazbank which offered the starting price of $1.928 billion for the stake. The second offer came from Promeregion Holding which suggested a price of $1.934 billion. Third offer in the size of $1.988 came from Spring Holdings Ltd and was declared a winner.

The results of the auction were predictable as ConocoPhillips was seen as the main contender for the state’s stake in Lukoil since July, when the company’s President along with Lukoil’s President Vagit Alekperov met with Russian President Vladimir Putin to discuss future investments. ConocoPhillips paid $60 million more than the starting price set by the government, and the price of one share amounted to $31.737. On Monday, September 27, Lukoil’s shares were trading for $31.57 per share in the Russian Trading System. Following the official announcement of the auction’s results the price of Lukoil shares traded on the Moscow Interbank Currency Exchange fell by 3.5 percent.

Following the auction ConocoPhillips released a press statement where the U.S. oil company announced that it plans to establish a joint venture with Lukoil to develop oil and gas deposits in Timano-Pechorsk province and to jointly participate in the West Qurna project in Iraq. ConocoPhillips also announced that it wants to increase its stake in Lukoil by another 2.4 percent and will offer the Russian oil company’s shareholders a chance to sell the relevant amount of shares for a price of $30.76 per share.

Following the auction Leonid Fedun, vice president of Lukoil, told reporters that the company’s management is satisfied with the results of the auction. “This is the largest privatization deal in the Russian Federation. It proved the company’s capitalization,” said Fedun. He also reiterated that the company’s management did not take part in the auction. Russia’s Deputy Economy Minister Andrei Sharonov also told reporters that his agency is satisfied with the results of the auction. Kirill Tomashchuk from the Federal Property Fund did note however, that his agency is somewhat upset that the $2 billion barrier wasn’t overcome in the process of the auction.


SEE ALSO

ConocoPhillips Annoucnes Tender to Buy 2.4% of Lukoil Shares
Created: 30.09.2004 13:05 MSK (GMT +3), Updated: 13:05 MSK, 26 minutes ago

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ConocoPhillips headquarters in Houston, TX / Photo from www.conocophillips.com

U.S. oil company ConocoPhillips announced on Thursday, September 30, a tender for the purchase of 20.418 million shares of Russian oil major Lukoil, which amounts to 2.4 percent of the Russian company’s charter capital. The tender was open at 8:00 GMT and will be closed on 16:30 GMT on Friday, October 1, the U.S. company’s press release said.

ConocoPhillips announced that it is ready to buy both Lukoil’s common shares, traded in Russia, for a price of $30.76 per share, or its ADRs (American Depositary Receipts) for a price of $123.04 per piece. The tender is organized by Credit Suisse First Boston (Europe) Ltd or another structure affiliated with the Credit Suisse Group. The U.S. oil company announced that it may buy a larger amount of Lukoil’s shares if offered. The current amount of 2.4 percent is connected with Conoco’s desire to bring its total holding in Lukoil to 10 percent before the end of 2004.

As MosNews reported on Wednesday, September 29, ConocoPhillips won the tender to buy 7.59 percent stake in Lukoil Oil Company which earlier belonged to the Russian government. The stake, whose starting auction price was set at $1.928 billion, was bought by ConocoPhillips for $1.988 billion. After the auction the Russian and U.S. oil companies signed a shareholder agreement which stated that ConocoPhillips may at a later date increase its total stake in Lukoil to 20 percent.

Quelle: MosNews

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Alexei Panov/ITAR-TASS
A Lukoil gas station in New York City was visited in September of last year by President Vladimir V. Putin of Russia, flanked by Vagit Y. Alekperov, left, president of Lukoil, and Senator Charles E. Schumer.

By JEFF GERTH

Published: October 2, 2004

agit Y. Alekperov, the president of Lukoil, is at ease talking about finding fossil fuels. "I am an expert in the area of oil and gas production," he said in an interview in a New York hotel on Thursday. "There's nothing else that I know how to do."

Fresh from a newly announced alliance with ConocoPhillips, Mr. Alekperov is trying to transform Lukoil from a Russian oil company to an international oil giant. Along the way, he is encountering the vagaries of global markets and geopolitics.

ConocoPhillips bought the Russian government's 7.6 percent stake in Lukoil for almost $2 billion, putting itself in a position to share in Lukoil's substantial reserves by entering into a joint venture for production in undeveloped hydrocarbon fields in northern Russia.

At present, Lukoil's reserves of 20 billion barrels are two and a half times those of ConocoPhillips, yet the American company has more than twice the market capitalization of its new Russian partner. Lukoil's shares trade in London.

Mr. Alekperov attributed the gap to "the political risks and instability" in Russia. He said he hoped that ConocoPhillips's "profound analysis of our corporate governance system" and reserves would strengthen Lukoil's credibility, despite continuing concerns about the Kremlin's influence over the Russian oil industry.

Although ConocoPhillips bought out the Russian government's stake in Lukoil, he said that given the importance of energy to Moscow, oil companies "will always be a focus of attention on the part of the government."

"I would not have ventured into this alliance without the blessings of President Putin," the Lukoil executive said, adding that he did not think that James J. Mulva, the chief executive and president of ConocoPhillips, would have formed the alliance either "without the blessing of his administration."

Washington does have an interest in the new alliance. Russia is not a member of the Organization of the Petroleum Exporting Countries, so the new alliance could help diversify American oil supplies - a goal of Republicans and Democrats. Also, it represents the first major success in an effort, announced by President Bush and President Putin in May 2002, to build stronger bilateral energy ties.

Mr. Alekperov and Mr. Mulva visited top officials in Washington on Thursday to underscore that point. Their hosts included Peter Watson, head of the Overseas Private Investment Corporation, or OPIC. It has already lent its support to building a Lukoil export terminal on the Gulf of Finland, the first 100 percent Russian-owned venture to be supported by the government corporation.

Mr. Alekperov is looking for OPIC support for another export terminal - in the Barents Sea - that would handle oil from the northern fields where ConocoPhillips will now be a co-producer.

"We are talking to OPIC, and hopefully they will be able to assist with financing this project," Mr. Alekperov said.

He explained why the export terminal makes sense for both companies.

"If you look at a map you'll see the distance from there to the Northeast United States is one-third of what it is from the Persian Gulf," he said, noting that ConocoPhillips has a refinery on the East Coast and Lukoil has many gas stations.

For its part, the Bush administration, while supporting the new alliance, has kept some distance from it because of political concerns about the president's being viewed as too close to Moscow or the oil industry, according to one administration official. At Thursday night's presidential debate, President Bush, in response to a question, expressed concerns about President Putin's recent moves to consolidate power.

The other potential production alliance between the companies, the West Qurna field in Iraq, would have strong political overtones. Lukoil was originally granted the concession in 1997 under Saddam Hussein, at a time when relations between Moscow and Baghdad were cordial. But the war in Iraq called into question the validity of that concession, and Lukoil has so far been unsuccessful, in Washington and in Baghdad, in obtaining final confirmation of its claim.

The political situation in Iraq is "very complex so far," Mr. Alekperov said, so bringing in ConocoPhillips was a move at "risk sharing" with the hope that an American company would improve Lukoil's prospects with a new Iraqi government.

If a West Qurna deal is completed, ConocoPhillips will own 17.5 percent, Lukoil's share will be 51 percent and the rest will be divided between the Iraqi government and other Russian companies.

Lukoil projects that West Qurna could produce 500,000 barrels of a day in a few years after significant investment. Mr. Alekperov said that based on extensive studies, "we are intimately familiar with the details" of West Qurna, and "there are really no unknowns with that field," even after years of neglect.

Quelle: The New York Times

Russia’s Lukoil, RusAl Plan Investments in Venezuelan Economy:top:

Created: 05.10.2004 12:14 MSK (GMT +3), Updated: 12:14 MSK, 1 hour 9 seconds ago

MosNews

Following the Moscow visit of Venezuelan Vice President Jose Vicente Rangel, Russia’s Lukoil Oil Company and Russian Aluminium Company (RusAl) announced their plans to make considerable investments in Venezuelan economy.

Venezuelan official met with Oleg Deripaska, the president and owner of RusAl. Deripaska expressed his intention to invest $500 million to establish an aluminium plant in Venezuela. The plant will process bauxite in association with the Venezuelan Guayana Corporation (CVG).

Rangel also met with the management of Lukoil Oil Company, who had also expressed interest in investing in projects in Venezuela. Following the meeting Lukoil released an official statement announcing the Russian oil company’s intention to establish a joint oil production venture with Venezuela’s National Oil Company PDVSA. The proposed joint venture will occupy itself with extraction of oil in the Lake Maracaibo and in Venezuelan Eastern oil basin. The sum of proposed investments in the project was not disclosed.

06-10-2004 Präsident Putin für umfassende Unterstützung des Ölkonzerns LUKoil

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Die russische Regierung soll den Ölkonzern LUKoil bei der Umsetzung seiner mit dem Kabinett abgestimmten Pläne unterstützen. Diese Ansicht vertrat der russische Präsident Wladimir Putin am Dienstag in einer Beratung im Kreml, die Problemen des Ausbaus von Pipelines galt. Zuvor hatte der Minister für wirtschaftliche Entwicklung und Handel, German Gref, über die Ergebnisse einer Auktion zum Verkauf des staatlichen Restanteils an LUKoil informiert.

„Der hohe Preis für das staatliche LUKoil-Paket resultierte aus zunehmenden Notierungen an der Börse", meinte Gref. Darauf sagte Putin, dass dies nicht nur mit hohen Aktienpreisen, sondern auch mit Problemen der Energiebranche in der Welt als ganzes sowie mit Perspektiven der russischen Energiewirtschaft zusammenhängt.

„LUKoil entwickelt sich mit gutem energischem Tempo. Das Unternehmen hat gute Chancen, seine Aktivitäten gemeinsam mit westlichen Partnern zu intensivieren", sagte der Staatschef.

Das Geschäft sei erfolgreich abgewickelt worden. „Ich betrachte es für richtig, wenn die Regierung LUKoil bei der Verwirklichung von mit dem Kabinett abgestimmten Plänen unterstütze.

Gref teilte mit, der Auktionssieger ConocoPhillips solle bis Jahresende Mittel für das LUKoil-Paket an den russischen Haushalt überweisen. Der Minister erinnerte daran, dass der US-Konzern das Paket für etwas weniger als zwei Milliarden US-Dollar ersteigert hatte.

Der Wert des Abschlusses übersteige nach seinen Worten den Auktionspreis vor eineinhalb Jahren, als der Staat seinen LUKoil-Anteil an der Londoner Börse angeboten habe.

„2002 wurden beim Verkauf von 5,8 Prozent der LUKoil-Aktien nur 775 Millionen Dollar erwirtschaftet", teilte der Föderale Fonds für die Verwaltung von staatlichem Vermögen mit. Dank dem Verkauf des Restanteils an LUKoil werde der Privatisierungsplan für 2004 übererfüllt, nach dem der Haushalt bis zu 40 Milliarden Rubel erhalten soll.

An der Beratung nahmen auch Ministerpräsident Michail Fradkow, der Leiter des Präsidialamtes, Dmitri Medwedew, Vizeregierungschef Alexander Schukow, Industrie- und Energieminister Viktor Christenko, Präsidentenberater Igor Schuwalow, der Chef der Öltransportgesellschaft Transneft, Semjon Weinstock, und der Vorstandsvorsitzende des Gaskonzerns Gasprom, Alexej Miller, teil. (RIA)

07-10-2004

ConocoPhillips konnte nicht 2,4 Prozent der Lukoil-Aktien kaufen

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Die Investoren sind nicht bereit, sich von den Lukoil-Aktien zum selben Preis zu trennen wie der Staat. Wie die Wirtschaftszeitung „Wedomosti" am Donnerstag erfuhr, hat kein Aktieninhaber vom ConocoPhillips-Angebot Gebrauch gemacht, Lukoil-Aktien für 30,76 Dollar pro Stück zu verkaufen.

Die Lukoil-Manager nahmen nicht am Geschäft teil, den anderen Aktieninhabern passten wohl nicht die von ConocoPhillips angebotenen Bedingungen, erklärte ein den Initiatoren des Angebots nahestehender Sprecher gegenüber der Zeitung. Denn der Preis, zu dem die Lukoil-Aktien bei der Privatisierungsauktion verkauft wurden, lag zum Zeitpunkt der Auktion unter dem Marktpreis, wovon der Rechnungshof den Präsidenten und die Regierung auch informiert hatte.

Wie aus einer der Gesellschaft Lukoil nahestehenden Quelle zu erfahren war, würden die Amerikaner dennoch weitere Aktien nachkaufen, um ihr Aktienpaket auf zehn Prozent zu vergrößern, weil dies die obligatorische Bedingung für die Aufnahme ihres Vertreters in den Direktorenrat der Gesellschaft ist. „Ich denke, der Preis soll steigen", fügte der „Wedomosti"-Gesprächspartner hinzu.

Einige Analytiker sind der Ansicht, dass ConocoPhillips mit einem Erfolg rechnen kann, wenn ein Preis von 31 bis 31,5 Dollar für eine Aktie angeboten wird. Valeri Nesterow aus Troika Dialog ist der Auffassung, dass der misslungene Aufkauf den Kurs der Lukoil-Aktien zusätzlich unterstützen würde, weil selbst Kleinivestoren und -aktionäre berücksichtigen sollten, dass ConocoPhillips erneut auf den Markt kommen würde. Im russischen Effektenhandelssystem RTS kostete eine Aktie am Mittwoch bereits 32,45 Dollar. Einige Experten sind der Auffassung, dass die Gesellschaft Capital Group, die vor einigen Jahren ein 10-prozentiges Paket gekauft hat, einen Teil ihrer Lukoil-Aktien an ConocoPhillips abtreten würde, sollte ein Aktienaufkauf auf dem Markt misslingen.

Die Lukoil-Kapitalisation im RTS-System belief sich am Vortag auf 27,4 Milliarden Dollar. 7,59 Prozent der Lukoil-Aktien gehören ConocoPhillips, während die Top-Manager 20,58 Prozent der Aktien kontrollieren. (RIA)

13-10-2004
LUKoil will 300 Millionen Dollar in neue westsibirische Ölfelder investieren

LUKoil-West Siberia, Tochterunternehmen des derzeit größten russischen Ölkonzerns LUKoil, plant, bis zu 300 Millionen Dollar in die Erschließung neuer Ölfelder im Autonomen Bezirk der Jamal-Nenzen (Westsibirien) zu investieren. Das geht aus einer am Dienstag in Moskau verbreiteten Pressemitteilung des Unternehmens hervor.

Die meisten Investitionen fließen in die Vorbereitung auf die Erschließung des Gasfeldes Nachodkinskoje und seinen darauffolgenden Betrieb. Die ersten Produktionsanlagen sollen im April 2005 ihrer Bestimmung übergeben werden. „Im Laufe des nächsten Jahres sollen auf dem Feld bis zu 40 Förderbohrungen niedergebracht werden. Der gesamte Investitionsaufwand wird auf knapp 500 Millionen Dollar geschätzt", heißt es in der Mitteilung.

Erkundungsarbeiten im Revier werden von LUKoil-West Siberia wie auch von den Unternehmen Jamalneftegasdobytscha und Nachodkaneftegas geführt. Die drei Firmen besitzen Lizenzen für fünf Lagerstätten mit Gesamtvorräten von 920 Milliarden Kubikmetern Gas, 70 Millionen Tonnen Öl und 38 Millionen Tonnen Gaskondensat. Geplant ist, jährlich bis zu zwei Millionen Tonnen Öl, zwei Millionen Tonnen Gaskondensat und knapp 25 Milliarden Kubikmeter Gas zu fördern.

Die gesamten Investitionen des Mutterkonzerns LUKoil in die Erschließung von Vorkommen im Autonomen Bezirk der Jamal-Nenzen werden von Experten auf knapp fünf Milliarden Dollar geschätzt. (RIA)

Thursday, October 14, 2004. Page 6.

LUKoil Set to Explore Saudi Arabia

Reuters LUKoil said Wednesday it had hired a unit of the world's largest oil services firm Schlumberger to explore for gas in its joint venture with Saudi Aramco.

LUKoil said in a statement the venture had signed a contract for 2-D and 3-D seismic surveys on onshore Contract Area A in the northern part of Rub al-Khali desert in Saudi Arabia.

The contractor for the project, WesternGeco, a division of Schlumberger, was selected at a tender, the statement said without giving details. Work will begin next month and be conducted through 2005 to prepare the structure for exploration drilling in 2006.

LUKoil, one of Russia's two top producers with output of 1.7 million barrels per day, has said it would borrow $215 million to fund exploration on the block over the next five years, which includes a seismic survey and nine exploration wells.

In January, LUKoil joined a small club of foreign energy firms with a foothold in Saudi Arabia, announcing a deal to find and pump gas in the world's top oil-producing nation under a project known as Block A, covering 29,900 square kilometers.

The project is small by the standards of Saudi Arabia's immense hydrocarbon reserves, but it creates a potentially useful new link for world No. 2 oil exporter Russia with producer cartel OPEC's leading member.


Other Saudi gas project winners this year include Italy's ENI, Spain's Repsol YPF and China's Sinopec.

While its vast oil fields remain in state hands, Riyadh wants foreign investment in the gas sector to meet surging demand.

The gas auctions followed two years of direct negotiations with international majors for three huge industrial projects.

18.10.2004
LUKoil kaufen
Aktienservice Research

Dem langfristig ausgerichteten Anleger empfehlen derzeit die Analysten von "Aktienservice Research" die Aktien von LUKoil (ISIN US6778621044/ WKN 899954) zum Kauf.

Ende September habe die russische Regierung ihren 7,6-prozentigen Anteil an LUKoil verkauft. Für einen Übernahmepreis von rund 2 Milliarden US-Dollar habe der drittgrößte US-Ölkonzern ConocoPhilips den Zuschlag gewonnen. Gerade im Hinblick auf die Vorgänge bei Yukos schaffe eine solche Beteiligung Vertrauen bei den Anlegern. Die strategische Allianz mit ConocoPhillips erhöhe gewissermaßen die "Reputation" des Unternehmens und lasse die Anlage "sicherer" erscheinen.

Seien die Zahlen für 2003 noch sehr enttäuschend ausgefallen, scheine dem Unternehmen eine Trendwende zu gelingen. Neben unternehmensinternen Effizienzsteigerungen profitiere LUKoil natürlich auch vom anhaltend hohen Ölpreis. So habe man im Rahmen der Zahlen für das zweite Quartal einen deutlichen Umsatzanstieg ausweisen können. Habe der Umsatz des Ölkonzerns im Vorjahresquartal noch bei 5,08 Milliarden US-Dollar gelegen, hätten nun 7,96 Milliarden US-Dollar in den Büchern gestanden.

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Auf Grund einer Umstellung des Bilanzierungsmodus sowie des Verkaufs einer Beteiligung im Vergleichszeitraum des Vorjahres sei es dabei zu einem Gewinnrückgang gekommen. Der Nettogewinn habe demnach bei 877 Millionen US-Dollar im Vergleich zum Gewinn im Vorjahresquartal in Höhe von 1,54 Milliarden US-Dollar gelegen. Unter dem Strich zeichne sich jedoch eine Verbesserung der Ertragslage ab.

Zudem verfüge das Unternehmen weltweit über die zweitgrößten Ölreserven nach ExxonMobil, wobei die LUKoil-Vorräte an der Börse mit einem gewaltigen Abschlag bewertet würden. Ein Angleichen der Bewertung könnte sich mittel- und langfristig ebenso stützend für den Kurs auswirken wie die geplante Erhöhung der Beteiligung von ConocoPhillips. Im Kursverlauf drücke sich aus, dass nun die fundamentalen Daten zu LUKoil wieder stärker in den Fokus der Anleger rücken würden.

"Aktienservice Research" sehe, auch wenn das Papier schon gut gelaufen sei, nach der Kursschwäche der vergangenen Tage eine interessante Einstiegsgelegenheit in einen Wert mit langfristig solidem Potenzial. Risiken würden sich durch mögliche Beeinträchtigungen im Falle einer erneuten Eskalation der Yukos-Affäre ergeben, wodurch die fundamental gute Situation von LUKoil erneut in den Hintergrund geraten könnte.

Das Rating der Analysten von "Aktienservice Research" für die Aktien von LUKoil lautet auf "langfristig kaufen". Der Stoppkurs sollte bei 89,50 Euro platziert werden.

LUKoil to invest $400m in Neftokhim Burgas

RBC, 20.10.2004, Burgas 15:43:42.LUKoil will invest $400m in its Neftokhim Burgas refinery by 2012, LUKoil President Vagit Alekperov announced after a meeting between Russian Prime Minister Mikhail Fradkov and Bulgarian businessmen. The Neftokhim Burgas refinery will produce fuel meeting European standards by 2008. LUKoil owns 58 percent in this refinery, which was privatized in 1999. The Russian oil company has already invested $400m in the refinery.

Lukoil to Replace Yukos as China’s Oil Supplier
Created: 22.10.2004 11:22 MSK (GMT +3), Updated: 12:00 MSK, 1 hour 19 minutes ago

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Lukoil railway oil tankers / Photo from www.lukoil.com

Russian oil major Lukoil seems to have changed its mind about replacing the embattled Yukos Oil Company as the main supplier of oil to China. This was announced on Thursday, Oct. 21, by Gennady Fadeev, the president of Russia’s state transportation company Russian Railways.

Fadeev said that Lukoil and Russian Railways are now in talks on the amount of oil supplies to China and the tariff for oil transportation by rail. “We are ready to lower tariffs for transporting oil to China if the amount of oil supplies increases to 30 million tons per year. We want to be competitive with oil pipeline transportation,” said the president of the transportation giant, quoted by Prime-Tass economic news agency. He added that the proposal to lower transportation tariffs will be submitted to the Economic Development and Trade Ministry for consideration.

Meanwhile, Lukoil’s press secretary Dmitry Dolgov said that the company is looking into the possibility of supplying oil to China by rail, but that it is still too early to talk about any details. A source in the oil company told the Vremya Novostei newspaper: “Due to the change of the market situation in Europe we are now studying the idea [of delivering oil to China].”

The source further explained that the discount on the Russian sour Urals crude blend amounts to approximately $7-10 per barrel as compared with the price of lighter Brent oil blend. “The overall losses of the Russian oil industry delivering all its oil to Europe amount to more than $5 billion a year, including budgetary losses of $2 billion,” according to Lukoil’s experts quoted by the paper. Just a month ago Lukoil refused to even consider the possibility of deliveries to China citing very high transportation tariffs.

Currently Russia’s embattled oil major and the country’s main exporter Yukos accounts for almost all oil exports to China. The deliveries of crude were supposed to amount to 6.5 million tons of oil this year, although in September Yukos announced that it was cutting part of its exports to China, citing high transportation costs.

The oil exports to China were set to decrease to 5.4 million tons, but on Thursday, Oct. 21, a Russian Railways’ official said that Yukos is likely to meet its original obligations after all. MosNews reported in March 2004 that Yukos and Russian Railways had signed an agreement to increase oil transportation to China to 15 million tons by 2007.

Quelle: MosNews

LUKoil to boost oil production



RBC, 22.10.2004, Moscow 17:50:28.The Board of Directors of LUKoil have approved key figures of the plan, budget and the investment program of the LUKoil group for 2005, the press department of the company said in a released statement. LUKoil based its projects on the forecasted average price for the benchmark Urals blend of $28 in 2005. According to approved documents, the company projects a 4-percent boosting of oil production. It is expected to produce 90.2m tons of oil. The company is to produce 7.8bn cubic meters of gas, which is 20 percent higher than the estimated gas production in 2004.

As for the downstream indicators, the company wants to increase oil exports. The company plans to export 49m tons of oil in 2005, which is 11 percent more compared to forecasted oil exports for 2004. LUKoil wants to process 11m tons of raw materials at its foreign refineries compared to 8.4m tons in 2004.

25-10-2004

Lukoil-Vizepräsident: ConocoPhillips wird seine Lukoil-Anteile auf zehn Prozent erhöhen

Das Unternehmen ConocoPhillips könnte sein Lukoil-Aktienpaket bis zum Jahresende auf zehn Prozent vergrößern. Diese Meinung äußerte Lukoil-Vizepräsident Leonid Fedun am Montag in der Wirtschaftszeitung "Wedomosti".

"Ich denke, dass sie (ConocoPhillips) diese Aktien ruhig und ohne Hast aufkaufen werden", so Fedun. "Der Lukoil-Aktienumsatz beläuft sich auf rund drei Milliarden Dollar im Monat. Einen Aufkauf von 2,4 Prozent würde der Markt gar nicht merken."

Der Lukoil-Vizepräsident zweifelt nicht daran, dass ConocoPhillips bis zum Jahresende mit dieser Aufgabe fertig werden könnte. "Die Mentalitäten von Lukoil und ConocoPhillips sind einander ähnlich", meinte er.

"Sowohl sie als auch wir haben uns stürmisch entwickelt und weltweit neue Aktiva erworben. Außerdem bekommen wir einen guten synergetischen Effekt: ConocoPhillips ist das größte Ölverarbeitungsunternehmen in den USA, aber auch unter den Privatunternehmen der Welt, während wir Vorteile bei der Förderung haben. Außerdem passen wir größenmäßig gut zusammen. Ein jedes andere Unternehmen aus der führenden Vier hätte versucht, zu dominieren. ConocoPhillips wird das aber nicht tun. Dies ist eine Allianz gleicher Partner."

Ferner bestätigte der Lukoil-Vizepräsident erneut die Position des Unternehmens zu den Yukos-Aktiva. "Nein, wir werden nicht an dieser Auktion teilnehmen", betonte Fedun. (RIA)

AFX UK Focus) 2004-10-27 13:30 GMT:
Lukoil 9 mths oil output 1.71 mln bpd vs 1.59


MOSCOW (AFX) - Crude oil output from Lukoil Group totalled 1.71 mln barrels per
day in the nine months to September, up 7.5 pct year on year.

The average flow rate from its wells rose 11.5 pct to 10.7 tonnes per day, while
its refineries produced 30.5 mln tons of oil products, up 3.7 pct, the company
said in a statement.

The tonne/barrel conversion rate is 7.33, it said.

Lukoil Plans Investment With Venezuela

Russia's Lukoil Plans $1 Billion Investment With Venezuela's State Oil Company
CARACAS, Venezuela Oct 28, 2004 — Russian oil giant Lukoil Holdings is planning a $1 billion joint investment with Venezuela's state-run oil company, a top Lukoil official said Thursday.

Andrey Kuzyaev, president of Lukoil Overseas Holding, told reporters that Lukoil is considering investing in oil exploration, among other projects in Venezuela.

Kuzyaev said Lukoil plans to sign an agreement with Petroleos de Venezuela S.A., or PDVSA, in the coming months.

"We're still negotiating with PDVSA," said Kuzyaev, who declined to give additional details.

Carlos Mendoza, Venezuela's ambassador to Russia, said Lukoil is contemplating investments in heavy crude refining projects, exploration and the upgrade of less productive oil fields.

A possible new refinery to process heavy crude is another possibility, Mendoza said.

Venezuelan President Hugo Chavez has sought to attract new investments in the energy sector from countries such as Russia and Iran.

Venezuela is the world's No. 5 oil exporter, a major fuel supplier to the United States and has the largest oil reserves outside the Middle East.

Quelle: ABC News

29 Oct 2004 Radina Maria

Lukoil launches Romanian refinery after upgrade.

On Thursday, Lukoil launched its Romanian refinery after an upgrade that cost $120.7 mln.
As a result of restructuring, the refinery will be able to boost processing depth of crude oil from 87.9% to 94.8%. Total annual refining output will stand at 2.4 mln tons. The proportion of light oil products will jump from 73.3% to 81.7% and amount to nearly 2 mln tons. In 2005 the company’s refinery will fully switch to oil products produced in compliance with Euro-3 and Euro-4 standards.

A total of 257 filling stations and 10 petroleum depots operate under the Lukoil brand in Romania. The company’s share on the local products market is approaching 20%.

Thus, the re-commissioning of its refinery in Romania will enable Lukoil to expand its sales of value-added oil products on the European market.


---------------------------------------------------------------------------------

Russian LUKOil Seeks Higher Stake in Bulgarian Refinery


Business: 30 October 2004, Saturday.

Russia's grand in oil sector LUKOil has declared interest to increase its stake in Bulgarian oil refinery in Burgas, which is currently standing at 58.4%.

According to Dow Jones NewsWires, the company's European arm Lukoil Europe Holdings B.V. has asked Bulgarian government to allow it to buy out the shares of other stockholders in the Lukoil Neftochim Burgas.

Besides Lukoil, Neftochim Burgas is owned by British Virgin Islands-based Power Trade Ltd with a stake of 12.7% and 24.71% held by Cyprus-based Rienco Investment Ltd.

The Russian request could be met if Bulgaria's Financial Supervision Commission approves a tender offer to purchase Bulgarian oil refinery.

Quelle: SofiaNews

EU verkündet am Montag Entscheidung zu JV Lukoil/ConocoPhillips


BRÜSSEL (Dow Jones-VWD)--Die Europäische Kommission will ihre Entscheidung über ein geplantes Joint Venture (JV) zur Rohölförderung der OAO Lukoil und der ConocoPhillips nicht wie geplant an diesem Freitag, sondern erst am Montag bekannt geben. Als Grund für die Verzögerung gab die Sprecherin von Wettbewerbskommissar Mario Monti an, die Unternehmen selbst seien noch nicht informiert worden.

Das Vorhaben war bei seiner Anmeldung als Fall für das vereinfachte Prüfverfahren eingestuft worden. Dieses wird angewendet, wenn wettbewerbsrechtliche Bedenken von vornherein ausgeschlossen werden. In der Regel wird der Zusammenschluss dann nach maximal vierwöchiger Prüfung genehmigt, wenn kein anderes Unternehmen dagegen Einwände erhoben hat.
(ENDE) Dow Jones Newswires/5.11.2004/ang/chr

05.11.2004, 05.11.

Russian Company to Search for Gas in Saudi Desert

Created: 05.11.2004 14:44 MSK (GMT +3), Updated: 17:42 MSK

MosNews

The Russian-Saudi joint venture Luksar will commence a seismic survey of gas deposits in Saudi Arabian desert, the Saudi Arab News newspaper reported on Friday, Nov. 5. Luksar is the joint venture of Lukoil Overseas, a subsidiary of Russia’s oil major Lukoil and Saudi Aramco oil company.

Survey work on an area totaling more than 30,000 square kilometers will continue throughout the next year. The drilling of at least nine exploratory wells is expected to start in 2006 and to last five years. Specialists believe the likelihood of finding a large gas deposit, suitable for commercial exploitation, in the desert is about 80 percent.

Lukoil is the first Russian company to gain access to gas deposits in Saudi Arabia. In March this year it signed a 40-year contract to explore and develop natural gas deposits in the northern part of the Rub’ al Khali [Empty Quarter] desert. The company, which is involved in about 15 oil and gas projects in various countries of the world, will invest over $200 million in the development of the deposit. It is thought the Saudi project could earn Lukoil a return of up to 15 percent on its investment, BBC reported.
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LUKoil begins drilling at northeastern Egyptian field
11/11/2004 11:05:00 AM GMT

LUKoil, the country's top oil producer, began drilling the first appraisal well at the Egyptian shelf field as the company is planning to compete with BP and Royal Dutch/Shell Group for market share in Africa.

Drilling began at the 1,820-meter deep well at the Northeast Geisum oil field, which needs $6 million of investment, LUKoil Overseas Holding said in a statement. Drilling of the first well at the West Geisum oil field in the Gulf of Suez in Egypt was postponed to February, the company said.

"The exploration program for both blocks covers a period of four years and includes drilling of four exploration wells," LUKoil said in the statement.

LUKoil plans to invest as much as $400 million in Egypt as it is expecting to expand output abroad to about 15 percent of its total production within a decade. The company wants to work on more fields when the country offers them, Andrei Kuzyaev, president of LUKoil Overseas Holding, said in April.

Initially, LUKoil planned to drill two exploration wells in Egypt this year and agreed to invest about $343 million to explore and develop the Northeast Geisum and West Geisum oil fields. Lukoil estimated in April that these fields may have as much as 423.8 million barrels of oil resources.

Quelle: Aljazeera

LUKOIL
Lukoil determined bond repurchase price

November 12, 2004 The Board of Directors of OAO LUKOIL by absentee voting has determined a repurchase price of non-convertible interest-bearing documentary bonds to bearer wich the Company plans to offer before the end of 2004.

The repurchase price is fixed at 100% of the nominal value. The number of bonds in the issue is 6,000,000 bonds, total size of the issue is 6 billion rubles. Bonds mature in 5 years. Repurchase of bonds will be possible 3 years after the placement.

The bonds will be placed through an open subscription and will have a coupon paid semi-annually. The coupon interest will be determined through a tender during the placement.

Proceeds from the bond placement will be used for the purpose of implementing the Company�s general administrative activities, including debt repayment and investment in production projects in Russia and abroad.

Lukoil Vice Pres: Tax Burden To Increase 15% In 2005

11-16-04 07:14 AM EST
MOSCOW (Dow Jones)--Russian oil company OAO Lukoil Holdings (LKOH.RS) said Tuesday it didn't expect to receive any back-tax claims from the year 2002 and onward.

"In 2001 we publicly announced that we were no longer going to use any scheme to minimize tax payments," Lukoil Vice President Leonid Fedun told a briefing.

Several years ago, Lukoil settled a dispute with tax authorities over a scheme it used to minimize taxes using the rocket launch center of Baikonur in Kazakhstan.

In the wake of multibillion dollar tax claims being levied against OAO Yukos ( YUKO.RS), investors have grown increasingly wary of Russian oil companies' tax histories.

Additional seeds of fear were sown last week when the Interfax News Agency reported that tax authorities were conducting audits into several other Russian oil majors. Lukoil wasn't included in the list.

Lukoil expects its tax burden to increase 15% in 2005 due to Russia's introduction of higher taxes on oil output and exports, Fedun said. He didn't give any specific figures.

Higher taxes could make projects requiring billions of dollars in investment unfeasible, Fedun said.

"It's a problem for the future," he said. "Either we'll have to enter into alliances with foreign majors, or the government will have to lower taxes. I think the government will eventually see that it's pointless to put money aside for ever."

Russia has created a stabilization fund to collect oil companies' windfall profits from high oil prices. However, there has been much controversy over how to use the proceeds.

A high rate of taxation isn't the only problem that has beset Russian oil majors in recent years. Transport costs have steadily been rising, and Russia's dependence on Europe as an export market has created a glut for Russia's Urals blend. In recent months, the prices of Urals has risen, but it has been outpaced by the record-setting prices on other blends.

Various Russian officials have proposed new pipeline routes targeting the Far East as well as the U.S., but a final decision has yet to be made.

"If there is no political, legally binding decision made by the end of next year, we'll have to start thinking about expanding our Varandei terminal, first to 12 million (metric) tons a year and then to 25 million tons," Fedun said. These throughput estimates are equivalent to 240,000 barrels a day to 500,000 b/ d.

As part of its joint venture with U.S. major ConocoPhillips (COP), Lukoil plans to ship crude produced in Russia's Timan-Pechora region directly to the U.S. via the Barents Sea port of Varandei.

Separately, Fedun confirmed that Lukoil is in talks with OAO Russian Railways (RR.YY) on exporting crude oil to China. Before the onset of its tax woes, Yukos was Russia's primary exporter to China, but has cut some volumes due to financial difficulties. The biggest obstacle in getting oil to China now is high railway tariffs, he said.

"If the tariffs will be at an acceptable level, then 10 million-15 million tons a year," that currently supply Europe, "could be shifted to the east," he said.

Company Web site: http://www.lukoil.com

-By Anna Raff, Dow Jones Newswires (+7 095) 974 8055; anna.raff@dowjones.com

Dow Jones Newswires
11-16-04 0714ET
Copyright (C) 2004 Dow Jones & Company, Inc. All Rights Reserved.

Quelle: Morningstar.com