No. 2, 2009

February 5, 2009:

In Istanbul (Turkey), LUKOIL President Vagit Alekperov held a press conference to sum up the results of the Company's activities in Turkey in 2008 and set out the Company's plans on this market for 2009, the medium and long-term future.

February 10, 2009:

In Moscow, LUKOIL concluded an agreement with Gazprombank for credit in the amount of 1 billion euros. The interest rate on the loan is fixed at 8% per annum. The loan agreement is for a period of 3 years.

February 11, 2009:

In St. Petersburg, LUKOIL President Vagit Alekperov met Leningrad Region Governor Valery Serdyukov to discuss the prospects for the future investments of the Company in the economy of the Region.

February 17, 2009:

LUKOIL paid 852.47 million euros to the Italian company ERG within the scope of a transaction to acquire a 49% participatory share in a joint venture managing the ISAB refinery complex in Sicily. The Company has thus fully settled with ERG ahead of time.

February 22, 2009:

In Odessa (Ukraine), the LUKOIL-Odessa Refinery came back on stream after regular overhaul.

February 26, 2009:

In Perm, LUKOIL President Vagit Alekperov and Perm Territory Governor Oleg Chirkunov signed a Memorandum of cooperation between the Perm Territory and the Company in 2009. The Memorandum was signed in accordance with the Framework Agreement on economic and social cooperation dated December 20, 2005.

February 27, 2009:

In Moscow, LUKOIL concluded an agreement to obtain two loans in the amount of $500 million and 17 billion rubles from Sberbank of Russia.

The term of the loan agreement is one year.

March 2, 2009:

In Moscow, the Company Management Board approved the Annual Coordinated Program for Scientific and Technical Development of the LUKOIL Group for 2009, the Medium-term Target Program for Scientific and Technical Development of the LUKOIL Group for 2010-2011 and the Standardization Program of the LUKOIL Group for 2009-2011.

March 6, 2009:

LUKOIL completed the tallying and independent audit of oil and gas reserves as of January 1, 2009. According to the data audited by the US company Miller and Lents, the Company's proved reserves of hydrocarbons as of January 1, 2009 amounted to 19.3 billion barrels of oil equivalent, including 14.5 billion barrels of oil and 29.3 trillion ft3 of gas.

March 11, 2009:

In Volgograd, LUKOIL President Vagit Alekperov met with Volgograd Region Governor Nikolay Maksyuta to discuss ways of further developing the region's fuel and energy sector and raising its reliability and efficiency.

March 12, 2009:

 In Moscow, LUKOIL President Vagit Alekperov and Chairman of the Board of Directors of the Novolipetsk Iron and Steel Works Vladimir Lisin signed an agreement on cooperation and technical partnership between the companies. The agreement envisages pursuit of a unified technical policy in the sphere of development of lubricants and special liquids to bring them fully into line with current international requirements in respect of performance characteristic and environmental safety.

March 20, 2009: 

In Moscow, LUKOIL Management Board approved a new version of the Company's Health, Safety and Environment Policy in the 21st century. This document was elaborated in accordance with the requirements of the ISO 14001 international standard and the OHSAS 18001 specification and approved by the Company's Management Board in 2002.

March 26, 2009:

 In Brussels (Belgium), LUKOIL President Vagit Alekperov made a speech at the European Business Summit. In his speech Mr. Alekperov, among other things, pointed out that the current energy market is not efficient enough. Over the recent years due to a tremendous growth of financial instruments trade, the oil price dynamics no longer reflects the actual supply/demand balance.

March 27, 2009:

In Chisinau, President of Republic of Moldova Vladimir Voronin met LUKOIL President Vagit Alekperov to discuss the results and prospects of activities of LUKOIL-Moldova.

March 30, 2009:

In Moscow, LUKOIL Management Board reviewed the work progress stipulated by the Integrated Action Plan for 2007-2008 aimed at implementation of the Corporate Production Planning Concept based on the provisions of the Kyoto Protocol.

April 6, 2009:

At the Pyakyakhinskoye gas condensate field in the Yamalo-Nenets Autonomous Area LUKOIL-Northern Siberia started drilling the first production well. Proven reserves of the field came to 70 million barrels of oil and 1.9 trillion ft3 of gas as of the end of 2008.

April 7, 2009:

 LUKOIL published consolidated U.S. GAAP financial accounts for 2008. The Company's operating cash flow increased by 31.5% to $14,312 million in 2008, despite global economic crisis and oil price fall. At the same time LUKOIL free cash flow increased the record of $3,775 million which is more than twice as much as in 2007.

April 16, 2009:

LUKOIL Finance Limited repaid on April 16, 2009 the 400 million euros loan facility in full and ahead of schedule. The facility was raised in November 2008 and was secured by LUKOIL's guarantee. The proceeds under the facility were used to provide partial financing of an acquisition of a 49% interest in the ISAB refinery complex in Priolo, Italy.

April 16, 2009:

LUKOIL received the Grand-Prix of the All-Russian contest named "Best Russian companies. Dynamics, efficiency, responsibility", which was organized by the Russian Union of Industrialists and Entrepreneurs.

April 20, 2009:

In Moscow, LUKOIL President Vagit Alekperov and AVTOVAZ President Boris Alyoshin signed a Cooperation and Technical Partnership Agreement between the two companies for 2009-2012.

April 23, 2009:

In Prague (Czech Republic), the LUKOIL Board of Directors held a visiting session, where it reviewed the issues concerning the Annual General Shareholders' Meeting and the Company's overseas activities in the Upstream and Downstream business segments. Among other things, it was resolved to hold the Meeting on June 25, 2009.

April 24, 2009:

In Astrakhan, LUKOIL began towing the IRSP-2 platform jacket to the installation site at the Yury Korchagin field in the Caspian.