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Rosneft Sells Ukarine Fuel Retail Network

Rosneft Sells Ukarine Fuel Retail Network

Rosneft’s press office confirmed the fuel retail network in Ukraine had been sold but it did not name the buyer.

A number of Rosneft subsidiaries were removed from the list in Q4, 2017 in connection with the sale. They include RN-Kart Ukraina LLC, TNK-Industries Ukraine, Aviation Fuel Company LLC and Glusco Retail LLC.

The Ukrainian Antimonopoly Committee (AMC) at the end of December allowed Glusco Energy S.A. (Switzerland) to buy Lysychansk oil refinery (LINIK) and Rosneft fuel service stations in Ukraine. The AMC allowed Glusco to acquire more than 50% in Rosneft Management Company Ltd and Fargrade Ltd (both based in Cyprus), which own LINIK and the Rosneft chain of filling stations. Rosneft Management and Fargrade were also the registered owners of TNK-Industries Ukraine, RN-Kart Ukraina and refinery operator PJSC Lysychansk Petroleum Investment Company. Glusco previously owned 50% of Rosneft Management.

The Rosneft fuel retail network in 12 regions of Ukraine included 141 fuel service stations operating under the brands of Formula, TNK, Golden Cheetah (Zoloty Hepard), and Smile.

Glusco Energy S.A. is part of Proton Energy Group S.A. (Switzerland), trading in oil and petroleum products. Source: KyivPost PWKD12012018

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