According to the international news agency, Lukoil is to buy around 380 Jet branded filling stations located in Belgium, the Czech Republic, Slovakia, Poland, Hungary and Finland, company vice president Leonid Fedun said.

The two oil majors are keeping the figures associated with the deal close to their chest for the time being, stating that the price tag for the fleet of petrol stations will not be divulged during the negotiations and that a final figure was yet to be reached.

ConocoPhillips continually evaluates all assets and their place within the long-term goals and strategies of the company, Phil Blackburn, a spokesman for ConocoPhillip, said. We are currently exploring opportunities to market various assets but will not comment further at this time.

If completed, the deal would increase Lukoil’s international retail sales by 1.4 million tons of gasoline per year, the Associated Press states.