Lukoil buys 100% of Shell Oil LLC from the British-Dutch oil and gas company “Shell”, which owns a network of filling stations and a lubricants plant in the Tver Region. The deal will be finalized after receiving approval from the Federal Antimonopoly Service, Kommersant reported.

“The acquisition of Shell’s high-quality business in Russia is fully in line with LUKOIL’s strategy to develop priority sales channels, including the retail network, as well as to develop its lubricants business,” the company’s press service quotes Maxim Donde, vice president for petroleum product sales at PJSC “LUKOIL”, as saying.

“As part of this transaction, more than 350 Shell Oil employees will retain their employment with the new owner,” said Heibert Vigeveno, Shell Downstream Segment Director.