Vagit Y. Alekperov

What is ‘Vagit Y. Alekperov’

The founder of major Russian oil company Lukoik. Lukoil began as Langepas-Uray-Kogalymneft, a Russian state-owned energy company that Alekperov helped to found in 1991. He became the company’s president when it became Lukoil in 1993. Alekperov owns a 20% stake in Lukoil, which is an international energy giant.

Explaining ‘Vagit Y. Alekperov’

Born in 1950 in Azerbaijan, Alekperov took after his father and began working in the oil industry at age 18. He studied to become an engineer at the Azerbaijan Oil and Chemistry Institute and worked for the oil companies Kaspmorneft, Surgutneftegaz, Bashneft and Kogalymneftegaz before becoming deputy minister of the Soviet Union’s oil and gas industry. His position as deputy minister led him to the formation of Lukoil.

Further Reading

  • The role of oligarchs in Russian capitalism – [PDF]
  • 14 Dynamics of state–business relations and the evolution of capitalism in Russia in an age of globalization – [PDF]
  • The Role of Personal Networks in Russian MNCs' Internationalization', Emerging Market Firms in the Global Economy (International Finance Review, Volume 15) – [PDF]
  • Investment Ethics and the Global Economy of Sports: The Norwegian Oil Fund, Formula 1 and the 2014 Russian Grand Prix – [PDF]
  • Corporate control and governance practices in Russia – [PDF]