PJSC "LUKOIL" announces conclusion of an agreement with
subsidiaries of Shell plc (hereinafter, "Shell") to acquire
100% share in Shell Neft, which conducts retail petroleum
products sales and lubricants production in Russia. The assets of
Shell Neft include 411 retail stations, primarily located in the
Central and Northwestern federal districts of Russia, and lubricants
blending plant located in Tver region. The sale will be
completed after its approval by Federal Antimonopoly Service.
"The acquisition of Shell's high-quality
businesses in Russia fits well into LUKOIL's strategy to develop its
priority sales channels, including retail, as well as the lubricants
business," said Maxim Donde, LUKOIL's Vice President for Refined
"Our priority is the well-being of our
employees," said Huibert Vigeveno, Shell's Downstream Director.
"Under this deal, more than 350 people currently employed by
Shell Neft will transfer to the new owner of this business."
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