We must balance conspicuous consumption with conscious capitalism. Lukoil is the second largest oil company in Russia. It is also the second largest producer of oil in the world. Lukoil is headquartered in Moscow, Russia. In terms of oil and gas reserves, it is the second largest public company in the world. The company operates in around 40 countries across the globe. Lukoil was founded in 1991. The main person behind the foundation is Vagit Alekperov, the Soviet deputy minister. Lukoil is one of the first companies in Russia to get listed on the London Stock Exchange.
Lukoil is also the first company to offer shares on the Russian Trading System. ConocoPhillips purchased 7.6 percent of shares of the company in 2004. The company had 14.5 billion barrels of oil as founded in the year 2009. Lukoil is the largest company for oil production in Russia and sells petrol in around 59 areas.