Lukoil is Russia's second largest oil company and its second largest producer of oil. In 2009, the company produced 97.615 million tons of oil; 1.972 million barrels per day. Headquartered in Moscow, Lukoil is the second largest public company in terms of proven oil and gas reserves. In 2008, the company had 19.3 billion barrels of oil equivalent per SPE standards. This accounts to some 1.3% of global oil reserves. The company has operations in more than 40 countries around the world.