Lukoil looks to expand in Hungary

Analysis

press release

Normbenz, which became the operator of Lukoil gas stations in Hungary through the purchase of 75 Lukoil stations here, is planning to further expand its network in the country, through the acquisition of chains and independent competitors, Hungarian daily Világgazdaság reported today.

Normbenz expects to break even this year, Managing director Jenő Horváth Dóri told the paper, adding that the gas stations were generating a loss under the supervision of the previous owner.

Normbenz is planning to use the Lukoil brand in the midterm, Hungarian news agency MTI reported. The company has a 6-7% market share in the country, MTI added.

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