Translated material
LUKOIL decided to sell its gas stations in the Baltics
LUKOIL has decided to sell its filling stations in the Baltics. According to the head of the oil company Vagit Alekperov, now his employees are looking for a buyer for assets in Lithuania and Latvia. Estonian filling stations were sold in the summer of 2015.
Alekperov explained that LUKOIL decided to sell gas stations due to anti-Russian sentiment in Lithuania and Latvia. In Latvia, the company has 59 filling stations (seven percent of the retail market), in Lithuania - 115 filling stations (18 percent of the market).
Vagit Alekperov said that LUKOIL's strategy does not involve expanding its retail network in Europe in the coming years.
- In the summer of 2015, LUKOIL sold 37 filling stations in Estonia for $300 million. The buyer was Olerex. Lukoil also sold its business in Ukraine. Austrian AMIC Energy bought 240 filling stations and six tank farms.
- LUKOIL is Russia's largest private oil company.