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Case Title:

Lukoil : Russia's Largest Oil Company's Global Strategies

Publication Year : 2007

Authors: Pinal Shah, Amy Sonpal

Industry: Oil & Gas

Region:Russia

Case Code: GRS0075A

Teaching Note: Not Available

Structured Assignment: Not Available

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Abstract:
LUKOIL, one of the worlds’ leading vertically integrated Russian oil and gas company with the business of exploration, production and marketing of oil, gas and petroleum products, was the second largest privatised oil and Gas Company after Exxon Mobil with 20.3 bboe (billion barrel of oil equivalent) proved hydrocarbon reserve which accounted for 1.3% of world oil reserves, 0.4% of world gas reserves and 18% of Russian crude oil production.

LUKOIL was founded by Vagit Alkeperov, who had strong political support from Russian Government. With an enormous retail presence in the US and huge refining capacity, oil and gas reserves out side of Russia, it aimed to transform itself over the next decade into one of the world's largest fully integrated energy company. The company planned to double its output of oil and gas together with substantial revenue growth in order to become next oil superpower in the world.

The case mentions the competitive strategies adopted by the company in order to secure its leadership position. The case highlights important strategies of LUKOIL starting from privatization to its geographical expansion and its growth strategy of acquisition of various companies not only in the Russia but in the periphery of Russia.

Pedagogical Objectives:

  • To understand Russia’s oil and gas industry
  • To understand Lukoil’s growth strategy as a market leader of Russian oil and gas industry
  • To analyse the effect of political factor on private companies of Russia
  • To understand the benefits of geographical expansion on the growth of Lukoil
  • To understand Vertical integration in oil and gas industry.

Keywords : LUKOIL Oil; Gas; Privatisation; Growth Strategies Case Study; Expansion strategies; transformation strategies; Exploration; Production; Gas Strategy; Marketing; Market Leader

Contents : 
Global Oil and Gas Industry
Privatization: An aid for growth
Expansion the next strategy
Exploration and Production - the core business
Refining & Marketing- Second Priority
Transforming into a Global Energy Company
Enriching the reserve base
Toward creating a global brand

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