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Business news, 04.09.2001 17:17

Shell says it plans no Russia expansion.

British-Dutch oil giant Shell said it has no plans to expand its activities in the refinery business in Russia, while the future of a pilot gas-station project in St. Petersburg will depend on its performance.

"We’re still analyzing the results of this pilot program and there’s no news on any expansion plans," said Steve Devon, Shell East Europe representative for Russia.

Shell operates five gas stations in St. Petersburg and a sixth is under construction. The company has approval to construct up to 25 gas stations.

Shell has also been manufacturing a limited range of oil products for industrial manufacturing and marine use at the Perm refinery.

The operation uses raw material supplied by Russia’s largest oil company, LUKoil, and additives imported from Europe.

News source: The Russia Journal

(c) 2000