Shell To Sell Russian Retail Business To Lukoil

Energy giant Shell has agreed to sell more than 400 of its petrol stations in Russia to the country's second-largest oil producer, Lukoil. <br />Shell Neft, the firm's subsidiary in Russia, will be sold for an undisclosed sum. <br />Shell says the deal, which includes 411 petrol stations, will protect 350 jobs. <br />The sale also includes a lubricant blending plant around 200km northwest of Moscow. <br />Shell announced in February that it would sell its Russian assets because of the invasion of Ukraine. <br />The firm however says pulling out of Russian deals which include the sale of its stakes in all joint business ventures with Russian state energy firm Gazprom, had cost it $3.9bn.