“Our priority is the well-being of our employees,” said Huibert Vigeveno, Shell’s Downstream Director. “Under this deal, all the people currently working for Shell Neft, more than 350 in total, will rem​ain employed by the company, which is now owned by LUKOIL.”

“We appreciate the fact that Shell chose our Company. I am certain that Shell’s facilities will become a great addition to LUKOIL’s other downstream assets,” noted Maxim Donde, Vice President for Refined Products Sales of LUKOIL.

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The deal includes 411 retail stations, mainly located in the Central and Northwestern regions of Russia, and the Torzhok lubricants blending plant, around 200 kilometres north-west of Moscow.

“Our priority is the well-being of our employees,” said Huibert Vigeveno, Shell’s Downstream Director. “Under this deal, more than 350 people currently employed by Shell Neft will transfer to the new owner of this business.”

“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, LUKOIL’s Vice President for Refined Products Sales.

The agreement with LUKOIL follows Shell’s announcement in early March of its intention to withdraw from all Russian hydrocarbons in a phased manner, and will be carried out in full compliance with applicable laws and regulations.

The sale is expected to be completed later this year, subject to regulatory approval.

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