Shell sells Russian gas stations and factory to Lukoil

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Russian oil company Lukoil, which also owns petrol stations in the Netherlands, is taking over 411 petrol stations and a Shell factory in Russia, the two companies announced on Thursday. Shell had previously announced that it wanted to sell all of its Russian operations due to the war in Ukraine.

Shell announced in March that it would pull out of Russia altogether so as not to indirectly contribute to Russian President Vladimir Putin’s war rage.

At first, the company stopped its activities only around the Nord Stream 2 gas pipeline, the Sakhalin-2 oil project and its collaboration with Gazprom, but later the British oil company decided to sell its stations as well -service. This has already cost 3.9 billion dollars (3.7 billion euros).

The service stations and the oil factory 200 kilometers from Moscow are now taken over by Lukoil. This means that 350 employees will be transferred from Shell to the new owner. “Our priority now is the well-being of our staff,” said Shell director Huibert Vigeveno.

Lukoil sees the acquisition as a good way to expand its service station business.

The deal has not yet been approved by Russia’s competition watchdog and is expected to close later this year.

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