How it started
History
The company was established in the midst of breakup of Yugoslavia. On 7 December 1990, the unit of INA Trgovina in Serbia unilaterally formed a separate company and by 1991, it started to operate all INA properties in Serbia, including 200 petrol stations, nine warehouses, around a hundred trucks and 40 tank-trucks, and several vehicle maintenance shops. In May 1992, the company was renamed to Beopetrol.
On 26 September 2003, the Privatization Agency of the Government of Serbia sold Beopetrol to Lukoil. Lukoil paid €207 million for 79.5% of shares. Another company which participated in the privatization tender was Hungarian MOL Group. After privatization the company was renamed Lukoil-Beopetrol.
In August 2022, the company changed its legal form from a joint-stock company to a Društvo sa Ograničenom Odgovornošću (limited liability company), following the withdrawal of its shares from the Belgrade Stock Exchange in June and the acquisition of the it's shares by Lukoil International GmbH.
As of 2025, Lukoil Serbia was the second largest petroleum company in Serbia in terms of market network with 112 filling stations.
In January 2026, U.S.-based Carlyle Group agreed to buy Lukoil International GmbH, after U.S. sanctions were extended to its parent company Lukoil in October 2025.
From Wikipedia’s article on Lukoil Serbia, shared under CC BY-SA 4.0.2