Russia Monitor is a review of the most important events related to Russian internal and external security, as well as its foreign policies.
Date: 30 May 2023 Author: Grzegorz Kuczyński
Russia’s Lukoil Pays Dividends, Shows Interest in Asia
Russia’s Lukoil informed that its net profit rose by 24.3 percent from last year. Shareholders approved the company’s final dividend. Meanwhile, the Russian oil company is withdrawing from Europe while seeking to invest in other markets across the globe. After Lukoil completed its oil refinery sale in Italy in early May, now the Russian oil producer is nearing to sell its assets in Romania and Moldova while showing interest in Central Asia.
Lukoil mulls selling its assets in Romania and Moldova to KMG International, a subsidiary of Kazakh group KazMunaiGaz. Lukoil’s businesses in Romania consist of a refinery in Ploiesti with an annual capacity of 2.5 million tons, 316 petrol stations, and three oil depots, including a gas terminal. In Moldova, Lukoil owns a network of 106 petrol stations, three oil depots (Balti, Sokoleni, Chisinau), and a liquefied natural gas depot in Sokoleni. Rompetrol Downstream, the retail division of the KMG International Group in Romania, has 1,257 gas stations and six oil depots in Romania as well as 95 petrol stations and two oil depots in Moldova. Another likely buyer of the businesses in the two countries would include the Anglo-Dutch company Royal Dutch Shell. In turn, Russian oil companies are showing keen interest in Central Asia. In Kazakhstan, Lukoil is planning to offer local fuel retailers a franchise scheme and to supply them with gasoline from Russia or purchase retail stations, mainly in Almaty and Astana. Lukoil shareholders approved the 2022 dividend of 438 roubles per share. Taking into account previously paid interim dividends, the total amount of dividends for 2022 will amount to 694 roubles per ordinary share. Russia’s second-largest oil producer said that its revenues rose by 24.3 percent year-on-year to 790.12 billion roubles, of which 303.475 billion roubles will be paid in dividends.
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