---
id: 217
title: "Lukoil Russia: Obvious Choice as Corporate Leader, 2012"
award_year: 2012
published: 2012-09-27 21:20:02
published_gmt: 2012-09-27 21:20:02
author: "CFI.co Editorial"
url: "https://cfi.co/awards/europe/2012/lukoil-russia-obvious-choice-as-corporate-leader-2012/"
categories: ["Best Practice", "CSR", "Corporate Governance", "Corporate Leadership", "Europe", "Industries", "Oil & Gas", "Sustainability"]
content_class: award_rationale
independence_status: independent_editorial
sponsor_disclosure: none
editorial_lens: constructive_positive_lens
historical_status: current_at_publication
correction_status: none
archive_policy: no_delete
provenance_layer: github_versioned
wayback_status: archived
wayback_first_snapshot: 20140409153847
wayback_snapshot_url: "http://web.archive.org/web/20140409153847/http://cfi.co/awards/europe/2012/lukoil-russia-obvious-choice-as-corporate-leader-2012/"
license: CFI-OAAL-1.0
content_sha256: 022a885fdbd3e4ed2b55e991712e6964fe686a456e2efcfb6e34529e69560408
canonical: 217-lukoil-russia-obvious-choice-as-corporate-leader-2012.json
---

# Lukoil Russia: Obvious Choice as Corporate Leader, 2012

> Verbatim archived copy. Canonical machine record: `217-lukoil-russia-obvious-choice-as-corporate-leader-2012.json`.

<p style="text-align: justify;"><a href="https://cfi.co/awards/wp-content/uploads/2012/09/lukoil.jpg"><img class=" wp-image-223 aligncenter" title="lukoil" src="https://cfi.co/awards/wp-content/uploads/2012/09/lukoil-300x89.jpg" alt="" width="210" height="62" /></a></p>
<p style="text-align: justify;"><strong>According the CFI judging panel, LUKOIL, Russia is a model of transparency and good governance and an obvious choice as a Corporate Leader in Europe. </strong></p>
<p style="text-align: justify;">LUKOIL generates a mass of favourable statistics. It ranks as the 40<sup>th</sup> largest company in the world by sales and sits five places higher on the list in terms of profitability. The Company (with a current market capitalisation of close to $50 billion) is responsible for around 17 per cent of Russia’s oil production and refining activity.  LUKOIL delivered $38.4 billion to the Russian government in tax for the year 2011. CSR activities focus on education, support to orphans and the funding of museums. The judges commented favourably on the LUKOIL Pension Fund, pointing out that the Company matches employee contributions in all countries in which it is represented. This was one of the first non-government pension funds in Russia and it is properly audited and very well run. The CFI panel congratulates LUKOIL as an example of a very large oil and gas company that truly promises benefits to all stakeholders – and delivers handsomely.</p>