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11 Apr, 2008 05:40

Lukoil sells American holdings

Russia’s largest private oil company, Lukoil, has announced it will sell 162 of its U.S. filling stations for $US138 MLN. The sale of the sites in Pennsylvania and New Jersey will be finalised in May.

The company owns over 2200 stations in the United States and operates three brands: Getty, Mobil and Lukoil.

The selling price of one filling station makes up $US 851,000. This price is relatively high for the American market, according to Lukoil Americas.

Lukoil has said it will sell the stations because of low margins, but will continue to supply according to the contract signed with new owners.