Lukoil to take cautious approach to buying private gas stations in Russia
LONDON. June 1 (Interfax) - Russian oil major Lukoil will be cautious with issues involving the possible acquisition of private filling station chains.
"We are taking a cautious approach to expansion on the retail market. We will be working in strict accordance with Federal Antimonopoly Service (FAS) recommendations in this matter," head of Lukoil strategic development Andrei Gaidamaka told reporters on the sidelines of the VTB Capital forum Russia Calling.
"Honestly, this is not a major business for Lukoil, but it does prompt a strong reaction from the population and from state regulatory agencies. We will be selective and careful in these matters," he said.
Earlier, Lukoil Vice President Vadim Vorobyov said the company thinks it has enough filling stations for the moment.
According to the company's report for 2010, Lukoil's sales chain consists of 6,508 gas stations (including franchises), 2,242 in Russia and 4,266 abroad.