The publication revealed that Shell’s CEO, Jeroen van der Veer, said that the company hopes to expand its current 27-strong fuel retail network in Russia, as it believes that this would be a profitable move.
Shell’s activities in Russia have not been problem-free in recent months. The company recently had to relinquish its leadership of the Sakhalin II LNG project to Russia’s state-owned gas monopoly Gazprom. In addition, Shell failed to acquire assets belonging to bankrupt Russian oil giant Yukos at an auction held by the Kremlin.
According to PetrolPlaza, Mr van der Veer said that Shell is not interested in working as a subcontractor in Russia. The industry publication also reported that Shell said it would require binding contracts in the region before it would consider investing in an increased presence on the market.
