Shell: sells plant and 411 petrol stations in Russia
(CercleFinance.com) - Shell announces that two of its subsidiaries, Shell Overseas Investments BV and B.
V. Dordtsche Petroleum Maatschappij, have signed an agreement to sell Shell Neft, the company that owns Shell's retail and lubricants business in Russia, to PJSC LUKOIL.
The agreement specifically covers 411 service stations, mainly in central and northwest Russia, as well as the lubricant blending plant in Torzhok, about 200 kilometres northwest of Moscow.
Shell says that under the agreement, over 350 people currently employed by Shell Neft will transfer to the new owner.
The deal follows Shell's announcement in early March that it intends to phase out of all Russian oil and gas operations.
Shell says that the sale is expected to be completed later this year, subject to regulatory approval.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
V. Dordtsche Petroleum Maatschappij, have signed an agreement to sell Shell Neft, the company that owns Shell's retail and lubricants business in Russia, to PJSC LUKOIL.
The agreement specifically covers 411 service stations, mainly in central and northwest Russia, as well as the lubricant blending plant in Torzhok, about 200 kilometres northwest of Moscow.
Shell says that under the agreement, over 350 people currently employed by Shell Neft will transfer to the new owner.
The deal follows Shell's announcement in early March that it intends to phase out of all Russian oil and gas operations.
Shell says that the sale is expected to be completed later this year, subject to regulatory approval.
Copyright (c) 2022 CercleFinance.com. All rights reserved.