Lukoil to invest USD 10 million in Serbia in 2017

Lukoil is planning the invest USD 10 million in Serbia in 2017, increase the number of its petrol stations and increase its market share, as announced on Wednesday, September 21, by representatives of the company, which is celebrating 25 years of operations.

Lukoil has been operating in Serbia since 2003, when the oil and gas group bought Beopetrol for EUR 117 million and obliged to invest EUR 85 million in five years.

The executive director of Lukoil, Andrei Kuku, said at the press conference that the company was making operating profit, but that the return on capital increase had not yet been made.

He said that Lukoil Serbia had invested more than USD 16 million in the previous two years.

The plan, he added, is to open another 10 petrol stations in the next three years, in addition to the current 113 gas pumps.

Lukoil has a 10% market share in Serbia in the sale of petroleum products and employs around 1,000 people.

In 2015, the company paid more than RSD 10 billion to the state budget.

Lukoil is one of the world's largest oil and gas companies, contributing more than 2% to the total petroleum production in the world and possessing around1% of the supplies. The company own more than 5,500 petrol stations in 22 countries and employs 110,000 people.

Lukoil Srbija a.d. Beograd

Lukoil

Beopetrol

Andrei Kuku

Lukoil Serbia