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About Commodity Insights
03 Mar 2022 | 16:45 UTC
By Nick Coleman and Anastasia Dmitrieva
Highlights
Intervention comes from major Russian economic actor
Letter to shareholders carried on company website
Russia's Lukoil, the country's second-largest oil producer, called March 3 for an end to the conflict in Ukraine, expressing its "deepest sympathy" to those affected and saying it was making "every effort" to ensure reliable energy supplies, in a letter on its website.
The board of Lukoil -- which is formally a non-state company and a major supplier of refined products to Europe, as well as a crude producer -- made the comments in a letter to shareholders. The company website carrying the letter became inaccessible overseas shortly afterward but was still viewable in Russia.
"The board of directors of ... Lukoil expresses its concern over the ongoing tragic events in Ukraine and its deepest sympathy to all those affected by this tragedy. We stand for the soonest cessation of the armed conflict and fully support its resolution through the negotiation process, through diplomatic means," Lukoil said.
"The company makes every effort to continue stable operation in all countries and regions of its presence, fulfilling the main mission — to provide reliable energy supplies to consumers around the world."
Lukoil "in its activities is fully committed to strengthening peace, international relations and humanitarian ties," it added.
The comments appeared a rare sign of dissent by a major economic actor in Russia; CEO Vagit Alekperov has close ties to the Kremlin and regularly attends international meetings, including past meetings of OPEC.