LukArco B.V. is a subsidiary of the

Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-eigh ...

oil company The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The largest ...

Lukoil The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petrol ...

. It was formed in February 1997 as a joint venture between Lukoil and the former American oil company

ARCO ARCO ( ) is a brand of gasoline stations currently owned by Marathon Petroleum after BP sold its rights. BP commercializes the brand in Northern California, Oregon and Washington, while Marathon has rights for the rest of the United States an ...

. In 2000, Arco merged with the UK oil company BP, and since BP became a shareholder of LukArco with 46% shares. In December 2009, BP sold its stake to Lukoil and thereafter Lukoil became a sole shareholder of LukArco. LukArco is a partner in the

Caspian Pipeline Consortium The Caspian Pipeline Consortium (CPC) is a consortium and an oil pipeline to transport Caspian oil from Tengiz field to the Novorossiysk-2 Marine Terminal, an export terminal at the Russian Black Sea port of Novorossiysk. It is one of the world's ...

with a shareholding of 12.5%, and is a partner in the consortium

Tengizchevroil Tengizchevroil is a joint venture between Chevron (50% share in the consortium), ExxonMobil (25% share), KazMunayGas (20% share) and LukArco (5% share). The joint venture was formed in April 1993, when the government of Kazakhstan granted exclus ...

(TCO).LUKARCO Acquires 5% Interest in Tengiz Oil Field from Chevron

References

Oil companies of the Netherlands Oil and gas companies of Kazakhstan ARCO Lukoil {{petroleum-company-stub