2011 - A milestone year for LUKOIL and LITASCO
Celebration of LUKOIL 20th anniversary and LITASCO 10 year’s presence in Geneva
Monday, March 14th, 2011 at Geneva Opera House
Twenty years ago on November 25th 1991, the state oil company LangepasUrayKogalymneft was established by decree of the USSR Council of Ministers. This new Company united three oil producing enterprises: Langepasneftegaz, Urayneftegaz, Kogalymneftegaz and three oil refineries: Perm, Volgograd and Novoufimsk under the unified name LUKOIL.
The following year, the privatization of the oil industry was initiated by a presidential decree and LUKOIL became a joint-stock company. From the onset, the Company began expanding its business beyond the borders of the Russian Federation.
LUKOIL today is one of the world’s leading vertically integrated oil & gas companies. The primary activities of the Company are exploration and production of oil & gas, production of petroleum products & petrochemicals, and marketing of these outputs. Most of the Company's exploration and production activity is located within Russia and its main resource base is in western Siberia. LUKOIL owns state-of-the-art refineries, gas processing and petrochemical plants within Russia and throughout Europe. The Company's products are traded globally and marketed at the retail level in the domestic Russian market, Europe and the United States.
In the spring of 2000, the city of Geneva was chosen as the location for the founding of LITASCO (LUKOIL International Trading and Supply Company), the “exclusive Marketing and Supply Company, 100% subsidiary of the LUKOIL Group.”
Switzerland is at the centre of Europe and Geneva is located at the western end of the country. Geneva is ideally located to communicate with the rest of the world: Asia in the morning and the US in the afternoon. It is a global finance and trade hub and a worldwide centre for diplomacy and international cooperation. Geneva is often described as the third European financial centre after London and Zurich.
LITASCO Group today is one of the world's major traders of crude oil and refined petroleum products internationally. It has established offices in ten countries, extending its reach around the world from the United States to Europe, the Middle East, Central Asia and Singapore and is recognized as a reliable and first-class counterparty.
Over the past decade, Geneva has become the leading city for commodities trading. It now conducts 33 percent of world petroleum trading, crude oil and oil products, and arranges 22 percent of raw materials shipments worldwide.
In retrospect, LUKOIL’s decision to open LITASCO a decade ago was visionary and has certainly contributed to the city’s positive and innovative business environment.
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President Vagit ALEKPEROV handed an example of his new book OIL of RUSSIA - Past, Present & Future to State Concilor Pierre-François UNGER in presence of Sergey CHAPLYGIN LITASCO Group CEO.
On Monday March 14th 2011, LITASCO hosted the celebration of these milestone events for both the mother Company LUKOIL and LITASCO Group at the Geneva Opera House with the exclusive performance of long-term LUKOIL partner the TCHAIKOVSKY SYMPHONY ORCHESTRA. The orchestra is directed by Maestro Vladimir FEDOSEYEV and renowned violin soloist Alena BAEVA performed select pieces of Bach, Mozart and Rossini.
LITASCO Group CEO Sergey CHAPLYGIN was honored by the presence of LUKOIL President Vagit ALEKPEROV and Mr. Pierre François UNGER, Geneva State Councilor leading the Department of Economy and Health, and their spouses.
Before the concert Mr. ALEKPEROV gave a welcoming speech to all guests followed by Mr. UNGER who underlined the importance of the trading community in Geneva and ensured his continued support to the development of our industry.
LUKOIL and LITASCO Group top management as well as Geneva office staff attended the festivities accompanied by their spouses. LITASCO CEO Sergey CHAPLYGIN was also honoured by the presence of members of Geneva Parliament, Ambassadors and General Consuls of countries in which LITASCO Group is represented, business partners, Geneva State Administration members and partners, GTSA (Geneva Trading & Shipping Association) board members, GEM (Association of Multinational Companies) representatives, FER (Employer Union) management, CCIG (Geneva Trade Chambers Management), OCG (Geneva Chamber Orchestra) Counsel board members, as well as representatives and students from the University of Geneva and other educational institutions.
Over 1,000 eminent guests representing the international community and the oil industry contributed to make this event a very festive and memorable celebration. The superb performance of the Tchaikovsky Symphony Orchestra brilliantly directed by Maestro FEDOSEYEV and the final musical “bouquet” contributed to the official celebration of 2011 as the year of Russian culture in Switzerland!
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