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Russia’s Lukoil to sell fuel stations sale in Ukraine by end of September

September 19, 2014, 12:52 UTC+3 SOCHI
In July, Lukoil reached an agreement to sell 100% in Lukoil-Ukraine, an owner of the stations, to Austria’s AMIC Energy Management
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© ITAR-TASS/Anton Novoderezhkin

SOCHI, September 19. /ITAR-TASS/. Russian oil company Lukoil will close a deal to sell its 240 filling stations in Ukraine for US $300 million until the end of September, CEO Vagit Alekperov said Friday at an investment forum.

“We expect that the deal will be closed by the end of this month,” Alekperov said, adding that the deal is now being considered by Ukraine’s antitrust authority.

In July, Lukoil reached an agreement to sell 100% in Lukoil-Ukraine, an owner of the stations, to Austria’s AMIC Energy Management.

IPossible acces to pipeline in Ukraine

Lukoil is holding talks with oil pipeline monopoly Transneft to get access to an oil products pipeline in Ukraine operated by Transneft’s PrikarpatZapadtrans, the CEO said. “We want to have access to this pipeline. Unfortunately, this pipeline is not in operation yet, that is why we are now in negotiations with Transneft to get a right to administrate the firm with the right to purchase it later,” Alekperov said.

Lukoil amid Western sanctions

Lukoil needs no state support amid Western sanctions, Alekperov also said. “I hope, we can cope on our own,” he said.

Alekperov said separately in a broadcast of the Rossiya 24 television channel that oil prices on the world market are likely to decrease and stabilize. The company used to include a U.S. $100 per barrel price in its forecasts earlier and now it has reduced the price estimate to $95 per barrel.

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