Lukoil caught in the crossfire
An investor favourite thanks to its Western-style management and handsome dividends, Lukoil could feel the fallout from a dispute between other major players
Dividends paid by Lukoil, Russia's largest privately held oil company, are under threat as a result of an intensifying legal battle involving Rosneft and Sistema. Kremlin-controlled Rosneft has initiated a $3bn lawsuit against conglomerate Sistema over alleged asset-stripping at Bashneft in a case that has echoes of Rosneft's dismantling of Yukos in 2003. The case is already damaging investor sentiment in Russia and now threatens to have a wider impact, as worries grow about claims that could be made by Rosneft on the Trebs and Titov oilfields joint venture, which is controlled by Bashneft and Lukoil. "We think the perceived risk to Lukoil's dividend has increased post the recent Rosneft-Sis
Also in this section
6 February 2026
The long close relationship between key supplier Qatar and pivotal buyer Japan becomes even deeper following new landmark deal
6 February 2026
Partnerships across the LNG value chain have evolved over time, growing in both complexity and importance, according to panellists at LNG2026
6 February 2026
Nigeria's mega-refinery is still trying to solve many challenges, all while its owner talks up expansion
5 February 2026
While broadly supportive of EU efforts to tackle methane emissions, representatives of the gas industry warn it could deter supply contracting if timelines and compliance requirements are not made more pragmatic
