Key business activities

System Supply and Asset Optimization

LITASCO Group focuses on operations and optimization of its EU Refineries and downstream assets, third party non-Russian trading and paper trading, in compliance with applicable EU/UK/US/CH regulations.

LITASCO fully coordinates crude oil and feedstock supply, off taking and selling petroleum products including petrochemicals for the following refineries:

Bourgas (Bulgaria), Petrotel (Romania) and ISAB (Italy), until its sale in May 2023.
LITASCO is also responsible in 45% of Zeeland Refinery’s optimization of (Netherlands).

LITASCO provides economical support to the refineries carries out planning shipping and risk management and assists in taking the most economical decisions on the flows for the asset and so for the group.

LITASCO manages the inventory exposures and coordinates the refinery sales between affiliates and exports.

LITASCO SA is doing processing on joint venture LUKOIL has with TOTAL SA on Zeeland Refinery in the Netherlands.

International Trading

LITASCO conducts international, profitable, entrepreneurial trading and marketing operations of non russian crude oil and refined products globally and outside Russia, (purchases and sales from/to third parties) from Geneva and our network of trading offices in Europe and America, in full compliance with all existing and applicable regulatory requirements.

LITASCO creates incremental value from the 3rd party barrels using its trading and marketing skills.

Export Marketing

LITASCO (LUKOIL International Trading and Supply Company) was historically the sole agent for the Company's international marketing and trading operations since 2000.

Transfer of all export operations to a single Company simplified export arrangements, optimized export flows and assured transparency of LUKOIL's oil and petroleum product exports.

LITASCO has taken delivery of LUKOIL system barrels at load port in the Arctic Sea, the Baltic Sea, the Black Sea and at the Western Pacific Ocean.

In 2014, our international diversification further increased when LITASCO started marketing of oil produced at the West Qurna-2 field in Iraq.

Storage

Storage is a key activity and skill to LITASCO strategy.

It provides the Company with the necessary optionality to handle its significant system flow, as well as its third party volumes.

By bulk breaking, making bulk and through blending activities, LITASCO is able to provide its customers and trading partners with the right products at the right time, with focus on ARA, Atlantic Basin and corresponding markets.

In a very dynamic and ever changing market environment, LITASCO constantly strives to optimize its　oil storage positions, hence adapting to complex market dynamics.

Our storage portfolio includes positions in the ARA region (Amsterdam, Rotterdam, Antwerp), in Scandinavia, MED region with France and Spain, as well as Black Sea area.

Gas and Power Wholesale Trading

Please take note of the following restriction of the power of representation relating to LITASCO SA's activities as a balancing responsible party in Austria:

"According to LITASCO SA's shareholders' resolution of September 17, 2019 and for the purposes of section 93 Abs 1 Z 3 litera b) Natural Gas Act (GWG 2011), only members of the board and of the management who are Austrian citizens or citizens of another EU member state or EEA are entitled to act for the company relating to the activities of the company as a Balance Responsible Party in Austria".

16.01.2023:

"LITASCO SA has started the application process for being granted a gas shipper licence under section 7A(2) of the UK Gas Act 1986." The relevant notification to be found enclosed.

Advert for Gas Shipper licence

Retail

In 2021, LITASCO Group integrated LUKOIL’s European Retail business into its daily activity.

LITASCO retail activities are present in 15 countries.

It represents 2271 stations under different mode of operations.

Key business activities

System Supply and Asset Optimization

International Trading

Export Marketing

Storage

Gas and Power Wholesale Trading

Retail

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