Lukoil Oil Company Buys Shell Neft in Russia
05.16.2022 By Ricardo Perez - NEWS

May 16, 2022 [Prensa Latina] – The Russian oil company Lukoil announced an agreement with the Anglo-Dutch company Royal Dutch Shell for the total acquisition of Shell Neft, which owns 411 gas stations and a lubricants plant in this country.

 

According to the statement, Russia’s largest private oil company and its largest oil producer negotiated with Shell to acquire a 100% stake in Shell Neft, which retails hydrocarbon derivatives and produces lubricants in Russia.

On the deal, the Russian company’s vice president for Refined Products Sales, Maxim Donde, said the acquisition of Shell’s high-quality business in Russia fits well with Lukoil’s strategy to develop its priority sales channels, including retail, as well as the lubricants business.

Shell Neft owns a large share of gas stations in the central and northwestern federal districts of the Eurasian nation, a lubricants production plant in Russia’s Tver region.

The transaction will be completed after approval by Russia’s Federal Antimonopoly Service, the note said , which did not state the amount of the deal.

On April 7, Shell declared that it would suspend its operations in this country in response to the Russian military operation in Ukraine. According to experts, the decision will cost between four and five billion dollars.

Lukoil is the second largest company in the world, next to ExxonMobil, in terms of crude oil reserves.

Pro Trial: Access 10,390 Tank Terminal and Production Facilities

10,390 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Vopak Ups Outlook as Demand for Energy Storage Boosts Profit
05.20.2024 - NEWS
May 20, 2024 [Reuters]- Tank storage company Vopak VOPA.AS on Wednesday raised its full-year prof... Read More
China Energy to Complete New Serbian Refinery in Four Years - Report
05.20.2024 - NEWS
May 20, 2024 [SeeNews]- China Energy International Group is expected to build a 2.4 billion euro ... Read More
UAE's ADNOC Buys Stake in NextDecade's Rio Grande LNG Facility, Signs Supply Deal
05.20.2024 - NEWS
May 20, 2024 [Reuters]- Abu Dhabi National Oil Company (ADNOC) has acquired an 11.7% stake in Nex... Read More
OMV Petrom Commissioned the Largest Crude Oil Storage Tank in Romania, at Petrobrazi Refinery
05.20.2024 - NEWS
May 20, 2024 [The Diplomat]- OMV Petrom, the largest integrated energy producer in Southeastern E... Read More