Shell deals with its Russian petrol stations| MENAFN.COM

Tuesday, 05 July 2022 05:44 GMT

Shell deals with its Russian petrol stations


(MENAFN) Shell, the huge energy firm, has approved to put on sale above 400 of its gas stations in Russia to Lukoil.

Shell Neft, the Russian branch, is going to be traded but the cash is unrevealed yet. Lots of Western oil and gas companies are making efforts to get rid of their Russian trades after their war on Ukraine. Shell stated the deal is going to guard 350 career and 411 gas stations are involved.

The trade has a lube oil blending plant around 200km north-west of Moscow involved. Though, Shell publicized three months ago about putting on sale its Russian shares due to its acts on Ukraine.

It was documented about its every three months’ revenue as energy companies keep to gain from increasing oil and gas costs. In the Q1 of 2022, Shell gained USD9.13 billion (£7.3 billion), almost thrice its USD3.2 billion incomes it released for Q1 2021. However, the company notes that withdrawing of Russian trades, the trade of its stakes in all mutual trade projects with Gazprom involved, had charge it USD3.9 billion (£3.1 billion).

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