LukArco explained
LukArco B.V. is a subsidiary of the Russian oil company Lukoil. It was formed in February 1997 as a joint venture between Lukoil and the former American oil company ARCO.[1]
In 2000, ARCO merged with the UK oil company BP, and BP became a shareholder of LukArco with a 46% stake. In December 2009, BP sold its stake to Lukoil, making Lukoil the sole shareholder of LukArco.[2]
LukArco is a partner in the Caspian Pipeline Consortium with a shareholding of 12.5%,[3] and is a partner in the consortium Tengizchevroil (TCO).[4] LukArco owns a 5 percent share at Tengiz.[5]
Notes and References
- http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=2001277 ARCO, LUKoil Sign Summary Shareholders Agreement, Detailed Financing Terms for LUKARCO Joint Venture
- News: BP says Lukoil buys out stake in CPC pipeline JV . . 2009-09-11 . 2009-09-12 . Lorraine . Turner.
- http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=2000952 ARCO, LUKOIL Formalize Joint Venture Agreement; First Investment is in Caspian Pipeline Consortium; Negotiations Proceed for Tengiz Oil Field Involvement
- http://www.bp.com/genericarticle.do?categoryId=2012968&contentId=2000876 LUKARCO Acquires 5% Interest in Tengiz Oil Field from Chevron
- News: Watters . Kate . Sidestepping the Sanctions on Russia . Inkstick . October 4, 2022.
