LUKOIL decided to change its CEO amid sanctions

Vadim Vorobyov, who was sanctioned by the United States, was replaced as CEO of LUKOIL by Sergei Kochkurov. Vorobyov took over the company after Alekperov left in April 2022 after being included in the London sanctions list Vadim Vorobyov

Oil company LUKOIL has decided to change its CEO. This is stated in a company statement.

The decision was made at a meeting of the board of directors. It decided to terminate Vadim Vorobyov's powers early. The new CEO is Sergey Kochkurov , who held the position of vice president for oil and gas production in Russia at LUKOIL.

RBC sent a request to LUKOIL.

On January 10, the United States imposed sanctions on Russian oil companies. Vorobyov was among them. Restrictions were also imposed on the son of the company's founder, Vagit Alekperov, Yusuf. Alekperov Sr. left the board of directors and the post of president of LUKOIL in April 2022 after being included in the UK sanctions list . Vorobyov replaced him as head of the company.

In the latest list of affiliated persons published by LUKOIL (for the second half of 2021), Kochkurov is not listed as a shareholder. According to this document, Vorobyov holds 0.031% of the company's shares.

LUKOIL was among the top ten largest Russian companies by net profit according to Forbes for 2022 and 2023. In both cases, the company ranked fourth with RUB 790.1 billion and RUB 1.16 trillion.

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