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Principal of Accaunting
Financial Statement Analysis
OAS “LUKOIL” RUSSIA
1. General characteristic of the enterprise
OAO "LUKOIL" - is one of the largest vertically integrated oil company, established in 1991. The principal activities of the Company are exploration and production of oil and gas, production of petroleum products and petrochemicals, and marketing of these products. Most of the Company's exploration and production activity is located in Russia, and its main resource base is in Western Siberia. LUKOIL owns modern refineries, gas processing and petrochemical plants located in Russia, Eastern and Western Europe, as well as neighboring countries. The main part of the Company's products sold on the international market. LUKOIL petroleum products are sold in Russia, Eastern and Western Europe, near-abroad countries and the USA.
LUKOIL is the second largest private oil Company worldwide by proven hydrocarbon reserves. Company's share of the global oil reserves is about 1.1% of global oil production - about 2.3%. The company plays a key role in the Russian energy sector, which accounts for 18% of Russian oil production and 19% of Russian oil refining.
Key performance indicators of OAO "LUKOIL" for the last three years are given in Table 1 .1.
Table 1 .1
Key performance indicators of OAO "LUKOIL"
|Data |2006 |2007 |2008 |Absolute deviation | |
| | | | |2008 compared to |2008 compared to |
| | | | |2007 |2006 |
|1) The volume of |68109 |81891 |107 680 |+25 789 |+39 571 |
|products and | | | | |...