Was founded on the basis of the team "Lukoil Racing Formula 3"

During six years Lukoil Racing team achieved an absolute result in Formula-3 and was beyond comparison. The team drivers won nearly all the races, in which they took part. The LUKOIL RACING didn't let anybody  ponder over the title of the best team of the ROTHMANS-ASPAS Cup, NGSA-RC and Russian Championships. In the 2003 the team became a winner of the unofficial Finland Constructors Championship.

The team drivers  - an Italian Alberto Pedemonte and a young, perspective Russian driver Viktor Maslov won the first and second places two years in succession. In 1997 - on Dallara 397 cars with Fiat engine, and one year later - on Dallara 398 with Renault engine. In 1999 Alberto Pedemonte became again the Russian Champion and the young Russian driver Alexey Pavlovskiy, who replaced Viktor Maslov, was the 4-th in the Drivers Championship.

In 2000, despite of considerably increased competition, the team drivers repeated their results in the Drivers Championship. In the 2001 - Alberto Pedemonte was the second, while Pavlovskiy took the 4-th place in the Drivers Championship.

In 2002 the team changed its stuff: Andrea Belicchi was invited on the place of retired Alberto Pedemonte. Just as it was expected, Andrea engaged in the "battle" for the title and won the Champion's title in the last race before the finish of the Championship. For Alexey Pavlovsiy the season of the 2002 was the best - he became the bronze prize-winner of the Championship.

For the season of 2003 the team kept its drivers stuff, having the prolonged contracts with Andrea Belicchi and Alexey Pavlovskiy. "We decided to try our forces in the competitions of  European countries and turned our eyes  on Finland - the country, which gave Formula-1 such pilots as Mika Hakkinen, Mika Salo and Kimi Raikkonen." In this season Andrea and Alexey confirmed their status of the strongest drivers and gained 11 victories in 12 races and won the titles of the Champion of Finland (Andrea Belicchi) and Vice-champion (Alexey Pavlovskiy).