Lukoil Sells Ukrainian Assets to Austria’s AMIC Energy Management

Russia’s Lukoil reached an agreement in principle to sell 100% of Lukoil-Ukraine CFI’s assets in Ukraine to Austria’s AMIC Energy Management.

According to a note released by Lukoil on Thursday, the assets comprise around 240 filling stations and 6 petroleum tank farms. 

“The sale of the filling-station network and petroleum tank farms in Ukraine to AMIC will help Lukoil optimize its asset structure and distribution-network management system in Eastern Europe, to which we attach great importance seeking to enhance the efficiency of our business in terms of petroleum-product sales," Vadim Vorobyov, Lukoil Vice-president, commented.

Lukoil said that negotiations were initiated by AMIC Energy Management, which expressed its interest in acquiring the assets.

“Given that Lukoil-Ukraine is one of the top five leaders of the Ukrainian fuel market in terms of the number of filling stations and the volume of retail petroleum-product sales, its purchase is a strategically important step to improve AMIC’s investment portfolio in Central and Eastern Europe. I would like to express my sincere gratitude to our partners for their willingness to positively consider our offer to purchase the retail network," Günter Maier, Managing Director of AMIC Energy Management GmbH, said. 

The second largest oil producer in Russia did not disclose the details of the deal.