The oil and gas sectors make up over 20 per cent of Russia’s GDP, while China, the world’s second-largest oil consumer, depends heavily on imports of foreign oil – more than 55 per cent of oil consumption – to support its economic growth

Sino-Russian cooperation in the energy sector will expand beyond the traditional oil and gas arena as economic ties between the two countries continue to grow closer, industry experts say.

With the fluctuating oil and gas prices and the increasing competition, Lukoil, one of the leading integrated oil and gas companies in the world, needs to enhance and optimise its business activities so as to meet the changing market conditions, says a report

Lukoil Oil Company (Lukoil), engaged in the exploration, production and marketing of oil and gas, petroleum products and petrochemicals operates worldwide through four reportable business divisions, namely, exploration and production; refining, marketing and distribution; chemicals and others.