Lukoil EN

Some Lithuanian political scientists say that the growing share of Russia's gas giant Gazprom on the Lithuanian gas market may be risky, although the new deals made by Lithuanian companies on cheaper Russian gas make sense.

Vitas Vasiliauskas, the head of Lithuania's central bank, has been asked to provide an explanation to the Seimas after it was reported that he represented an offshore company linked to Russia's oligarch Nikolai Tsvetkov before becoming the head of the bank.

The leaked Panama Papers indicate that Lithuania's central bank chief once represented an offshore company linked to a Russian oligarch.

The Panama Papers can offer some insight into Lithuania's oil industry at its crucial moment two decades ago as documents leaked from the Panamanian law firm Mossack Fonseca reveal bank accounts in Switzerland of former and present heads of Lukoil Baltija and Mažeikių Nafta.

A special governmental commission tasked with checking potential investors against national security interests says it has no objections to the takeover of Lukoil’s chain of petrol stations in Lithuania by Austria’s AMIC Energy Management.

The total amount of Russian investment in Lithuania is now four times below the level it was a decade ago, dropping to €500 million last year, reports business daily Verslo Žinios.

Russia‘s influence on Lithuania and the Baltic States is in serious decline with Russian businesses and capital playing a smaller and smaller part in the region, according to Forbes.

Lukoil has sold its chain of 230 filling stations in Lithuania, Latvia and Poland to Austrian Company AMIC Energy Management.

Even after the Russian company Lukoil pulls out of the Lithuanian market, it will still maintain a presence in the country, President Dalia Grybauskaitė said.

The nationalistic Law and Justice party that recently came into power in Poland has been eyed warily by neighbors and other countries in the EU. Some have been worried about the its moves to tighten its control over the media and constitutional courts, and Lithuanian analysts are also split about wh...

Just before Christmas, Lukoil president Vagit Alekperov announced that Lukoil would start to withdraw from Lithuania and Latvia. However, for a number of Lithuanian economists it appeared strange that one of the main reasons why Lukoil said that it had decided to withdraw from Lithuania and Latvia w...

The Russian oil company Lukoil has announced it is selling off its assets in Lithuania and Latvia, according to Interfax news agency.

Lithuanian President Dalia Grybauskaitė has vetoed recently passed amendments to the Law on Competition that provide for smaller anti-trust fines on large companies, saying it benefits specifically Russian oil company Lukoil.