Shell gets approval to merge retail fuel and motor oil business in Russia

Russia’s Federal Anti-Monopoly Service (FAS) has given the go-signal for the Russian division of Royal Dutch Shell to merge its retail fuel and motor oil business in Russia. The merger will be carried out by transferring the core assets of St. Petersburg-registered LLC Shell AZS to Moscow-registered LLC Shell Neft. Shell Neft will own part of the retail outlets, as well as the business to sell motor oil and build the motor oil plant in Torzhok, Tver Region. A Shell spokesman said these subsidiaries are being merged to optimize their corporate structure and boost efficiency. Shell AZS owns the company’s filling stations in Russia’s Northwest Federal District. All activities involving the operation and expansion of Shell’s chain of filling stations will be carried out within the context of the merged company LLC Shell Neft. A branch of LLC Shell Neft will be set up in St. Petersburg. Shell owns 81 filling stations in Russia.