Vagit Y. Alekperov

Definition of '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.

Investopedia explains '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.


Filed Under: ,

comments powered by Disqus
Hot Definitions
  1. Direct Bidder

    An entity that purchases Treasury securities at auction for a house account rather than on behalf of another party.
  2. Mortgage Modification

    A permanent change in a homeowner's home loan terms that makes the monthly loan payments affordable.
  3. Leveraged Benefits

    The use – by a business owner or professional practitioner – of their company’s receivables or current income to secure a loan whose proceeds then indirectly fund a retirement plan.
  4. Direct Consolidation Loan

    A loan that combines two or more federal education loans into a single loan. A Direct Consolidation Loan allows the borrower to make a single monthly payment. The loan is facilitated by the U.S. Department of Education and does not require borrowers to pay an application fee.
  5. Through Fund

    A type of target-date retirement fund whose asset allocation includes higher risk and potentially higher return investments "through" the fund's target date and beyond.
  6. Last In, First Out - LIFO

    An asset-management and valuation method that assumes that assets produced or acquired last are the ones that are used, sold or disposed of first.
Trading Center