MOSCOW -- Lukoil Oil Co. said Thursday that it plans to finalize the sale of 162 gas stations in the United States next month, and that it expects to sell the stations for $138 million to an undisclosed buyer, according to a report by the Associated Press.
The company's wholly owned U.S. subsidiary, Getty Petroleum Marketing Inc, East Meadow, N.Y., acquired the Mobil stations in Pennsylvania and New Jersey from ConocoPhillips in 2004.
Moscow-based OAO LUKOIL Corp. said its net profits last year rose by 27%, fueled by high world oil prices and an increase in refinery output. Russia's [image-nocss] second-largest oil producer says earnings rose to $9.51 billion (U.S.) as revenues climbed 21% to $81.9 billion.
Lukoil said in a statement Thursday cited by AP that costs also rose last year, mainly the result of the ruble's sharp appreciation.
The company's strategy in recent years has focused on high-value refined oil products as well as expanding its overseas network of retail stations. It has acquired more than 2,000 stations in the northeastern United States since 2000. Lukoil Americas Inc., through Getty Petroleum Marketing Inc., flies the flags of its two brands Lukoil and Getty.
Founded in 1991, Lukoil is one of the world's largest vertically integrated oil companies. As a publicly traded company, Lukoil is one of the most diversified Russian oil company and the first to have ventured abroad to make a significant commitment to the U.S. market. Lukoil is Russia's main petroleum refiner, and it has more than 4,700 gas stations worldwide and more than 2,000 stations in the United States.
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