Lukoil makes acquisitions through third parties

    Company officials told Business Standard that negotiations are underway through third parties with the chains and owners of individual stations. “If they know LukOil plans to buy their gas station or network, they raise the prices,” company officials said.

LukOil currently has 299 gas stations and a refinery in Romania. Last year, sales in gas stations exceeded €1 billion, 10 percent higher year-on-year.

By the end of 2009, the company plans to increase its network to 350 gas stations, through acquisitions and greenfield projects, with an estimated investment totaling €75 million.