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Article: RUSSIA - Oil & Gas Producers: AO Yukos.
- Article from:
- APS Review Downstream Trends
- Article date:
- August 14, 2000
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Founded at the same time as LUKoil, on April 15, 1993, Yukos is the second largest among the integrated Russian groups. But its capitalisation is about a third of LUKoil's. Yukos has gained considerably from the rise of oil prices since March 1999. But its oil output has declined to about 650,000 b/d, from 730,000 b/d in mid-1998. It produces about 1.2 BCM/year of gas, down from 1.5 BCM/y in 1998. Having about 102,000 employees, the group is headquartered in Moscow. In 1999 it made a net profit of $250m, reversing a $93m loss in 1998, with $100m of this allocated as dividends.
Yukos has three refineries with a total capacity of about 590,000 b/d. They are ...