Who is the owner of Lukoil gas stations in the US?

Answer 1

Lukoil is Russia's largest oil company and its largest producer of oil. Lukoil was formed in 1991, when three state-run, western Siberian companies, Langepasneftegaz, Uraineftegaz, and Kogalymneftegaz, merged. The initials of the three companies are preserved in the name Lukoil. In 2007, the company produced 96.645 million tons of oil; 1.953 million barrels per day. Company's top managers Vagit Alekperov and Leonid Fedun control about a quarter of Lukoil shares while about 20% is owned by ConocoPhillips. The rest of shares is a free float. In 2000, Lukoil purchased Getty Oil, and converted a small number of Getty stations in the United States to Lukoil in 2003. In 2004, Lukoil acquired Schlotzmeyer Bros., who formerly owned the Mobil stations in New Jersey and Pennsylvania. Many of these stations had Circle K stores, which Lukoil converted to its own Kwik Farms brand. However, many Mobil franchisees in the area did not want to convert their stations to Lukoil because it sold its fuel at the same prices as more established brands. In September 2004, ConocoPhillips purchased a 7.6 percent stake in Lukoil and signed an agreement that could increase this figure in the future to up to 20 percent.