London - Russian oil company Lukoil plans to hang on to its chain of filling stations in Ukraine, Lukoil president Vagit Alekperov told Interfax.
“We’re not currently thinking about selling the retail business in Ukraine, because it is effective. Retail in Ukraine is covered with supplies from oil refineries in Romania,” Alekperov said.
He also said that Lukoil does not plan to buy new downstream capacity after selling the Odesa Oil Refinery in Ukraine.
“For now we believe, and shareholders are pushing us toward this, that right now we need to focus on upstream,” Alekperov said.
Lukoil Ukraine operates a chain of about 300 filling stations.
Lukoil said last week it had signed an agreement with VETEK on sale of the Odesa Oil Refinery, which has been part of the group since 1999. The refinery has capacity to process 2.8 million tonnes of crude a year, but has been idled since October 2010 owing to the situation on Ukraine’s oil products market and changes in the scheme for supplying it with crude. Lukoil management met with Ukrainian officials a number of times in an unsuccessful effort to restart operations at the refinery.
