12/05/2022 12:55
Shell has reached an agreement with Lukoil to sell Shell Neft, the group’s retail and lubricant business in Russia. The deal includes 411 retail stations, located mainly in the central and north-western regions of Russia, and the Torzhok lubricant blending plant, approximately 200 kilometers northwest of Moscow.
“Under this agreement, more than 350 people currently employed by Shell Neft will be transferred to the new owner,” said Huibert Vigeveno, Shell’s Downstream Director.
The deal with Lukoil, Russia’s largest oil company, follows Shell’s announcement in early March of its intention to gradually withdraw from the Russian market in the wake of the conflict in Ukraine and European sanctions.
The sale is expected to be completed by the end of the year, subject to approval by the relevant authorities.