Lukoil Chairman Ravil Maganov Dies After Falling From Hospital Window

Sep 1, 2022

Russia's President Vladimir Putin, left, and Ravil Maganov, right, chairman of the board of directors of oil company Lukoil, pose for a photo during an awarding ceremony at the Kremlin in Moscow on Nov. 21, 2019. — Russia’s President Vladimir Putin, left, and Ravil Maganov, right, chairman of the board of directors of oil company Lukoil, pose for a photo during an awarding ceremony at the Kremlin in Moscow on Nov. 21, 2019. PHOTO BY MIKHAIL KLIMENTYEV/SPUTNIK/AFP VIA GETTY IMAGES

(Bloomberg)Lukoil PJSC Chairman Ravil Maganov died after falling from a window in a Moscow hospital, according to Russian media reports.Maganov died by suicide, Tass news agency said Thursday, citing an unidentified law enforcement official with knowledge of the matter. The 67-year old was in a hospital after a heart attack and was also taking antidepressant drugs, according to the report. Law enforcement officials are working on the scene, according to Interfax.

Maganov joined Lukoil, Russia’s second-largest oil producer, shortly after the company was founded and was in charge of the company’s upstream business. Thanks to his “managerial talent, Lukoil evolved from a small oil production group to one of the world’s leading energy companies,” the oil producer said in an emailed statement. He had been suffering from a “severe illness,” it said.

In recent years, the executive had participated in regular meetings at the Russian Energy Ministry alongside other oil companies, discussing the nation’s position on production levels ahead of OPEC+ meetings. He was appointed chairman in 2020.

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Lukoil was the only Russian oil producer to call for a “fast resolution of the military conflict” in Ukraine early March, just after Moscow’s invasion of its neighbor entered its second week. Vagit Alekperov, the company’s founder, chief executive officer and also a major shareholder, announced his resignation in April after being targeted by international sanctions.