Shell sells Russian retail business to Lukoil

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Belgique Nouvelles Nouvelles

Russia's second-largest oil producer Lukoil will buy Shell's Russian retail and lubricants businesses, as Shell moves ahead with its exit from Russia after its Ukraine invasion.

The deal comes as the British oil major moves ahead with its exit from the country following its Ukraine invasion.

"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, a vice-president with Lukoil.

 

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