Visit to Russian multinational energy corporation: PJSC Lukoil Oil Company
Our Kingston MBA / RANEPA students during their Financial module visited the top Russian oil giant LUKOIL in Moscow.
LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world accounting for more than 2% of the world's oil production and around 1% of the proved hydrocarbon reserves. We employ over 100,000 people who join their efforts and expertise to ensure the Company’s efficient development and secure its market leadership. LUKOIL is a responsible member of the civil society and a bona fide player on the market.
The students had a great chance to listen to one of the world’s top specialist in the oil sector Mr. Gennady Krasovsky, Corporate Secretary PJSC, LUKOIL. The topic was "Some aspects of sustainable business development under uncontrolled risk growth”. He provided a comprehensive insight into the energy future in transition to the low-carbon economy.
The students had a guided tour of the museum which is involved in exhibition and cultural and education activities. PJSC LUKOIL Museum was created in 2005. Its exposition reflects the Company's key focus areas and various historical aspects of the domestic oil industry. The museum had rich collection of albums and photos, as well as memorabilia of outstanding Russian oil industry professionals such as the Nobel brothers, D.I. Mendeleev, V.G. Shukhov, N.K. Baibakov, V.D. Shashin, Yu.S. Korchagin, and other.
The students were highly impressed by the modern and digitalized press centre of the company. It was clearly recognizable that the Company has a well-developed corporate governance system governed by business conduct and ethics set at international standards.
Feedback on the master class Krasovsky Gennady Anatolyevich, Deputy Corporate Secretary of PJSC "Lukoil"
Very informative material with a lot of information, in-depth analytics and answers to all questions. We were presented the history of the oil industry and the company LUKOIL, told about the backbone principles of its work.
It was very interesting to see the long-term impact of the accepted principles of social and environmental responsibility on income and sustainability of the company. Separately, it is worth noting how LUKOIL exists in the situation of global political turbulence and risks, including "black swans". How these risks determine the attraction of capital and allow the company not only to exist, but also to be very effective for investors with good growth in the value of shares.
Visiting the museum helped to feel the history of the company and the oil industry in Russia, and it was a great pleasure to visit the beautiful and vibrant media center.