Litasco

Main article: Oil exports from Russia

LITASCO is a subsidiary of LUKOIL LITASCO and serves as the main trade export organization (corporate operator) oil oil products for the entire LUKOIL group of enterprises. The head office of the company is located in, and To Geneva representative offices and branches are located in 17 (as of countries of the world data February 2023).

Aktivs

As of February 2024, Litasco operates four refineries in Russia. The company managed three more - in Italy, Romania and Bulgaria, as well as 45% in the Zeeland refinery in the Netherlands.

Due to the difficulties caused by EU sanctions during the conflict in Ukraine, Lukoil entered into a deal to sell its Italian refinery to the Israeli direct investment fund G.O.I. Energy, behind which is the Geneva-based trading giant Trafigura, in January 2023. This is a much milder scenario compared to confiscation.

All remaining foreign assets of the company at the beginning of 2024 are under threat of confiscation by local authorities. Litasco management at this time is considering moving its headquarters to Dubai.

Litasco continues to supply Russian oil from all major Russian ports, and also has significant business outside Russia, the Middle East and the North. To Africa This is the only company that continued to carry out regular oil supplies to, EU since Bulgaria, where "" Lukoil owns an oil refinery, was exempted from the EU embargo until the end of 2024.

History

2023: Starts in Mexico

The trading division of PJSC Lukoil Litasco SA in September 2023 begins work in Mexico, as the oil giant is looking for new markets for Russian products under EU and US sanctions. The company seeks to expand sales of Russian fuel in Latin America.

2019: Sale of 4 million barrels of oil and petroleum products per day

In 2019, Litasco sold just under 4 million barrels per day of oil and petroleum products, with almost two-thirds of this volume accounted for third-party oil sales outside the Russian Federation.