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12.03.2012

Lukoil Challenges Rosneft In Arkhangelsk

Lukoil plans to invest 600 million RUB (€15,5 million) in the construction of new gasoline stations in Arkhangelsk Oblast.

With its investment, Lukoil will challenge the dominance of Rosneft on the regional gasoline market. While Lukoil today operates 26 gas stations in the region, Rosneft has more than 40.

According to the company plans, ten new stations will be built, company representative Maksim Khitrpov told regional Governor Igor Orlov in a meeting last week, a press release from the Arkhangelsk administration reads. The investment will generate up to 100 new jobs.

In addition, Lukoil will modernize it existing gasoline stations in the region. A total of 14 stations, all of them located along the M-8 highway, are to undergo upgrades, four of them already in 2012, Khitrov confirms.

According to benzin-price.ru, there are a total of 112 gas stations in Arkhangelsk Oblast, 40 of them located in Arkhangelsk City and 15 in Severodvinsk. The M-8 highway, which connects Moscow with Arkhangelsk, has a total os 126 gasoline stations.

Lukoil is the biggest company on the Russian gasoline market with a total of 1497 stations. Rosneft operates 1453 stations, while Gazpromneft has 991 stations and TNK – 571 stations.

Copyright 2012, Barents Observer. All rights reserved.

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