Shell says in talks to sell Russian retail business

A check out demonstrates a board with the symbol of Shell at the firm’s gas station in Saint Petersburg, Russia Could 6, 2022. REUTERS/Anton Vaganov

LONDON, May well 6 (Reuters) – Shell (SHEL.L) mentioned on Friday it is in talks to market its network of petrol stations and lubricant plant in Russia as the British corporation forges in advance with its ideas to exit the state following Moscow’s invasion of Ukraine.

Ahead of the attainable sale, Shell has suspended operations at its filling stations and the Torzhok lubricant plant, Sergey Starodubtsev, the company’s head in Russia said in a statement.

He also verified that negotiations have been underway.

It was unclear who the probable purchaser was but resources told Reuters it would most possible be a nearby company.

Main Executive Ben van Beurden stated on Thursday that Shell was in talks to offer its Russian retail enterprise.

Shell wrote down $3.9 billion put up-tax as a final result of its choice to exit functions in Russia, which consist of a stake in a substantial liquefied pure gasoline (LNG) plant. browse extra

Reporting by Ron Bousso, Editing by Louise Heavens

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