Lukoil Once Again Tops Forbes List Of Largest Russian Companies

Oil company Lukoil has been once again named the largest private enterprise in Russia by the Forbes business magazine

MOSCOW (UrduPoint News / Sputnik - 17th September, 2020) Oil company Lukoil has been once again named the largest private enterprise in Russia by the Forbes business magazine.

Forbes' list is limited to companies, over 50 percent of which is owned by individuals, meaning Gazprom and Rosneft were not included.

Lukoil has been occupying the number one spot of the magazine list of 200 largest Russian companies since 2013.

The oil company is said to have earned over $103 billion in 2019.

It is followed by oil and gas company Surgutneftegas and X5 Retail Group � other mainstays of the Forbes list's top spots.

According to the magazine, the list is dominated by the retail sector, with 51 companies finding their way into it.

The total revenue of the top 200 companies in 2019 was approximately $602 billion.

The publication has also noted that 55 companies have seen a drop in profits, compared to 12 the previous year.