PJSC Lukoil announces today that it has signed an agreement to acquire a 100% stake in Shell Oil LLC, which is engaged in the retail trade of petroleum products and the manufacture of lubricants in Russia. The company’s assets include 411 service stations located mainly in the central and northwestern federal districts of the Russian Federation, as well as a lubricant production plant in the Tver region.
The transaction will be completed upon approval from the Federal Antimonopoly Service.
Under the agreement, more than 350 Shell Oil LLC employees will maintain employment relationships with the new owner, a Shell representative said.
Earlier, Shell Oil said the company would temporarily suspend the operation of its gas station network in Russia and the Torzhok plant to ensure the continued sale of the company to a new owner.
On February 28, in connection with the special operation, Shell announced its withdrawal from all joint projects with the Russian Federation, including Nord Stream 2 and the Sakhalin 2 LNG project (27.5% stake), and on March 8 Shell announced its intention to start a phased refusal of Russian oil products, pipeline gas and LNG.
The company stopped buying Russian crude on the spot market and did not extend long-term oil contracts with Russian suppliers, TASS reports.
A picture: Depositphotos
Source: Z R