Shell says in talks to sell Russian retail business

Shell says in talks to sell Russian retail business

He also confirmed that negotiations were underway. It was unclear who the potential buyer was but sources told Reuters it would most likely be a local company.

Shell said on Friday it is in converses with sell its network of petrol stations and lubricant plant in Russia as the British organization continues onward with its plans to leave the nation following Moscow’s invasion of Ukraine. In front of the possible deal, Shell has suspended operations at its filling stations and the Torzhok lubricant plant, Sergey Starodubtsev, the organization’s head in Russia said in an articulation. Chief Executive Ben van Beurden said on Thursday that Shell was in talks to sell its Russian retail business.

Shell wrote down $3.9 billion post-tax as a result of its decision to exit operations in Russia, which include a stake in a large liquefied natural gas (LNG) plant.

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