Shell sells retail facilities in Russia to Lukoil

14.05.2022. / 15:01

MOSCOW – Energy company Shell has agreed to sell more than 400 of its gas stations as well as a lubricant factory located near Moscow, Russia’s second-largest oil producer Lukoil.

FOTO: shell

Many Western oil and gas companies have recently been actively looking for buyers for their branches in Russia after its invasion of Ukraine. Shell claims that the sale of 411 gas stations will save 350 jobs.

The sale also includes a lubricant factory located 200 km northwest of Moscow. Lukoil is the largest Russian oil producer after Rosneft.

Two months ago, Shell announced that it would sell its assets in Russia and thus participate in the economic sanctions imposed on that country.

Earlier this month, the company reported record quarterly profits as energy companies benefited from the current market situation due to rising oil and gas prices.

In the first three months of this year, Shell earned $ 9.13 billion, which means that it almost tripled its profit compared to the same period last year.

Company officials said that by withdrawing from the Russian market, which includes the sale of its shares in all joint business projects with the Russian state energy company Gazprom, Shell cost the company $ 3.9 billion. Click


Source: Capital.ba – Informacija je capital by www.capital.ba.

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