On 29 of March 2017 in Baghdad in the presence of HE Oil Minister of Iraq Jabar Ali al-Luaibi SOMO (Iraq’s State Oil Marketing Company) and LITASCO (LUKOIL’s international trading company) have signed a Joint Venture Agreement aimed at conducting trading of crude oil and oil products on the international markets.
A company called LIMA, owned equally by SOMO and LUKOIL, will engage in regional and global trading of Iraqi crude with the objective to provide a platform for Iraqi crude to be sold and delivered directly to refiners (end users) and to optimise the value of Iraqi crude revenues for the Iraqi government. LIMA will also grow expertise of Iraqi SOMO staff by employing them in the JV in trading, operations and financial positions to work alongside LUKOIL staff with average experience of more than 10 years in commodities trading.
According to the agreement with Administration of Eiz Eldeen Saleem Sub-District LUKOIL implemented the first social project for this year, which was the Food Boxes Project.read more
The team of young employees of LUKOIL Uzbekistan Operating Company under the name of “Gorod Khlebniy” (“The City of Grain”) successfully performed at the “KVN Cup” humor contest held among the oil and gas producing entities of LUKOIL Group and bore away the highest award.read more