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February 23, 2024
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Shell Could Return to Romania by Taking Over Lukoil Gas Stations

The British oil giant Shell could return to Romania after 15 years. According to sources cited by the local business news platform ZF.ro, Shell could take over the Lukoil gas stations network.

Lukoil, the Russian company, is currently trying to exit the unfriendly markets, and Romania is one of them. The European Union imposed harsh sanctions on Russian products and companies, and Lukoil is one of the targeted businesses in Europe.

If this deal is confirmed, Shell will take over more than 300 gas stations in Romania, currently operated by Lukoil.

Shell is not at its first attempt of this kind in Romania. The 59 Shell gas stations operating in Romania were sold to the Hungarian company MOL in 2005. In 2007, Shell exited the Romanian market when it sold its LPG production unit to Rubis.

This could be the most spectacular move on the Romanian market at the beginning of 2023, all this happening in a very delicate context for the gas stations in the country. The boycott against the Austrian companies hit Lukoil’s competitors, such as OMV or Petrom, and the market could turn highly profitable in 2023 for whichever company takes over Lukoil’s gas station network.

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