Shell Overseas Investments B.V. and B.V. Dordtsche Petroleum Maatschappij, both being subsidiaries of Shell plc, have announced the sale of Shell Neft LLC, Shell’s retail stations and lubricants business in Russia, to PJSC LUKOIL. All regulatory approvals have been received.

An agreement to sell the company was announced on May 12, 2022. Shell Neft’s 350 employees will continue to be employed by LUKOIL, which now owns Shell Neft.

According to its announcement in early March, Shell is withdrawing gradually from all Russian hydrocarbons, including this transaction. All applicable laws and regulations were followed in the sale.