Shell says in talks to sell Russian retail business

A see displays a board with the symbol of Shell at the company’s gasoline station in Saint Petersburg, Russia Might 6, 2022. REUTERS/Anton Vaganov

LONDON, Might 6 (Reuters) – Shell (SHEL.L) said on Friday it is in talks to market its community of petrol stations and lubricant plant in Russia as the British company forges forward with its designs to exit the state pursuing Moscow’s invasion of Ukraine.

Forward of the probable sale, Shell has suspended operations at its filling stations and the Torzhok lubricant plant, Sergey Starodubtsev, the firm’s head in Russia explained in a assertion.

He also confirmed that negotiations ended up underway.

It was unclear who the potential buyer was but resources instructed Reuters it would most possible be a local enterprise.

Chief Government Ben van Beurden mentioned on Thursday that Shell was in talks to market its Russian retail company.

Shell wrote down $3.9 billion publish-tax as a consequence of its selection to exit operations in Russia, which involve a stake in a big liquefied normal gas (LNG) plant. browse extra

Reporting by Ron Bousso, Editing by Louise Heavens

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