Shell Overseas Investments BV and BV Dordtsche Petroleum Maatschappij, subsidiaries of Shell plc, have signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL. The deal includes 411 retail stations, mainly located in the Central and Northwestern regions of Russia, and the Torzhok lubricants blending plant, around 200 kilometres north-west of Moscow. The sale is expected to be completed later this year, subject to regulatory approval.On March 8, 2022, Shell announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas in a phased manner.LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, LUKOIL currently operates globally with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution.
Shell Overseas Investments BV and BV Dordtsche Petroleum Maatschappij, subsidiaries of Shell plc, have signed an agreement to sell Shell Neft LLC, which owns Shell’s retail and lubricants businesses in Russia, to PJSC LUKOIL. The deal includes 411 retail stations, mainly located in the Central and Northwestern regions of Russia, and the Torzhok lubricants blending plant, around 200 kilometres north-west of Moscow. The sale is expected to be completed later this year, subject to regulatory approval.On March 8, 2022, Shell announced its intent to withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas in a phased manner.LUKOIL is one of the largest publicly traded, vertically integrated oil and gas companies in the world in terms of proved hydrocarbon reserves and production; and the second largest producer of crude oil in Russia. Established in 1991, LUKOIL currently operates globally with core upstream assets located in Russia. The full production cycle includes oil and gas exploration, production and refining; production of petrochemicals and lubricants; power generation; marketing and distribution.
