Oil and gas company Lukoil is to sponsor the 2017 Formula 1 VTB Russian Grand Prix, which takes place in Sochi later this month.

Lukoil says the deal will promote its global brand awareness and create additional marketing opportunities for promoting its high-tech products - fuel and motor oils.

“The company has been supporting Sochi Autodrom since 2016,” explained Vagit Alekperov, President of PJSC Lukoil.

“The results of our collaborative work and the impressive achievements of the motorsport venue in terms of both its all-year business and the organisation of the Formula 1 Russian Grand Prix have assured us that becoming a part of the Formula 1 Russian Grand Prix in 2017 is the right decision.”

Lukoil’s motorsport involvement goes back many years and the company also sponsors Spartak Moscow football club, the Russian Children’s Football League, Zarya Kaspiya handball team (Astrakhan), Spartak water polo team (Volgograd), National skiing team, Unified Basketball League, Torpedo hockey club (Nizhny Novgorod) and the motor racing team ‘Lukoil Racing Team’ (Moscow).

The 2017 Formula 1 VTB Russian Grand Prix takes place on April 28-30 - click here for tickets.