Shell sells Russian retail business to Lukoil

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Shell sells Russian retail business to Lukoil
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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.

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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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