PJSC "LUKOIL" announces conclusion of an agreement with subsidiaries of Shell plc (Shell) to acquire 100% share in Shell Neft, which conducts retail petroleum products sales and lubricants production in Russia. The assets of Shell Neft include 411 retail stations, primarily located in the Central and Northwestern federal districts of Russia, and lubricants blending plant located in Tver region. The sale will be completed after its approval by Federal Antimonopoly Service.

"The acquisition of Shell's high-quality businesses in Russia fits well into LUKOIL's strategy to develop its priority sales channels, including retail, as well as the lubricants business," said Maxim Donde, LUKOIL's Vice President for Refined Products Sales.

"Our priority is the well-being of our employees," said Huibert Vigeveno, Shell's Downstream Director. "Under this deal, more than 350 people currently employed by Shell Neft will transfer to the new owner of this business."

About LUKOIL

LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.

About Shell plc

Shell is a global group of energy and petrochemical companies that aims to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible.​