Following extensive discussions with the leaders and employees of Shell's filling station network in Russia, acquired by LUKOIL last month, the decision was made to preserve the business as a separate subsidiary of the Company. It will develop under Teboil brand – a fuel brand that had not previously been present in the Russian market. The brand belongs to LUKOIL since 2005. The Company has already embarked upon a step-by-step rebranding of the filling stations.

Teboil was founded in Finland in 1934. It is one of the largest Finnish fuel businesses. Russian customers know the brand as the supplier of lubricants. Their imports date back to the 1960s. Now Russian market features about 150 high-quality Teboil products.

Teboil filling stations will offer new branded types of innovative fuels, as well as its own loyalty programme, integrated with LUKOIL's one. Teboil Russia team will be led by the former head of Shell filling stations in Russia, Vitaly Maslov.

The lubricants plant located in Tver region, which Shell also sold to LUKOIL, will manufacture Teboil-branded products as well.

​"We are happy to have this opportunity to keep the trust of our clients and continue our work under the new Teboil brand, especially taking into account the high standards of service. LUKOIL has the most high-tech refineries in Russia, as well as innovative high-quality products. It opens up a lot of new development opportunities," said Vitaly Maslov, general director of Teboil Russia.

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.