Shell Completes Sale of Downstream Business in Russia to Lukoil
May 25 2022 - 4:36AM
Dow Jones News
By Jaime Llinares Taboada
Shell PLC said Wednesday that it has completed the disposal of
its downstream business in Russia.
The FTSE 100 energy major has received all necessary regulatory
approvals for the sale of 411 retail stations and a lubricants
blending plant to Lukoil PJSC, Russia's second largest oil
producer.
The companies didn't disclose the value of the deal.
The sale is part of Shell's wider withdrawal from Russia
following the invasion of Ukraine. The company said this is being
conducted in a phased manner. On March 8 Shell said it would stop
all spot purchases of Russian crude oil and that it would shut its
service stations, fuels and lubricants operations in the
country.
Previously, Shell had announced that it would exit its
partnerships with Russia's gas giant Gazprom PJSC, including the
Nord Stream 2 pipeline.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
May 25, 2022 04:21 ET (08:21 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
PJSC Lukoil (CE) (USOTC:LUKOY)
Historical Stock Chart
From Mar 2024 to Apr 2024
PJSC Lukoil (CE) (USOTC:LUKOY)
Historical Stock Chart
From Apr 2023 to Apr 2024
