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    LUKoil, Gazprom top list of Russian cos. with foreign assets

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    NEW YORK, December 11 (RIA Novosti) - Russia's LUKoil, Gazprom, Severstal and RusAl top a ranking published on Tuesday of the 25 Russian companies holding the largest foreign assets.

    According to the ranking, researched by Columbia University and Moscow's Skolkovo Management School, independent oil major LUKoil, state-controlled gas giant Gazprom, steel maker Severstal and aluminum producer RusAl cumulatively own 78% of all Russian companies' foreign assets.

    LUKoil came first in the list with $18.9 billion of foreign assets, followed by Gazprom with $10.6 billion, Severstal with $4.6 billion, and RusAl with $4.2 billion.

    The 25 companies own a total of $59 billion in foreign assets, and have annual overseas sales of $200 billion and foreign personnel numbering 130,000. These figures have roughly tripled in the past three years, suggesting the companies' dynamic activity on foreign markets, the survey said.

    Almost 80% of Russian assets abroad belong to raw material companies, of which more than half are held by oil and gas companies, the survey said.

    Geographically, Western Europe accounts for 52% of Russian-owned foreign assets, followed by CIS countries (22%), Eastern Europe (11%), North America (6%), Africa (4%) and Asia and Australia (3%), the survey said.

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