Leading Russian oil producer Lukoil has entered into talks with ConocoPhillips to acquire some 380 filling stations under the Jet brand. This move illustrates the fact that, while the US giant begins a huge divesture program to fund upstream investments, Lukoil is heading downstream with a vengeance.
The news that oil giant Shell is to sell its network of Finnish service stations comes on the back of the revelation that the firm is to withdraw from a third of its fuel retail markets globally. Datamonitor predicts that, due to the concentrated nature of the market, it is unlikely that one of the leading players in Finland will purchase the Shell network.
St1 has revived competition in the Scandinavian service station market with the acquisition of 198 sites. By the end of 2009 Datamonitor predicts that St1 will have a 6% volume share in Sweden and a 4% volume share in Norway, but making further inroads will be tough.
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