Lukoil buys Russian Shell assets

Russia's Lukoil has agreed to buy Russia's Shell assets. This was reported by Russian media.

Yes, the company has reached an agreement to buy and sell. Lukoil is buying a 100% stake in Shell Oil LLC, which includes a lubricant plant in Torzhok, as well as a network of more than 370 gas stations in 28 Russian cities.

Earlier, Shell announced that it is ready to sell the entire business with employees, provided that the new owner provides a cash salary by the end of this year. In a quarterly report, Shell said it had spent $ 4.2 billion on phasing out the Russian market in the first three months of the year. Other oil giants are going to give up Russian assets. In particular, such plans were announced by ExxonMobil, BP and Equinor.