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Lukoil acquires petrol stations in Hungary

Russia oil and gas company Lukoil has raised the number of petrol stations its owns in Hungary to 74 with the acquisition of 30 Jet stations from US peer ConocoPhillips, managing director of Lukoil Magyarország Vladimir Laschevsky said at a press conference.

Lukoil acquired the Jet stations along with ones in five other countries. It spent $45 million to transform them into Lukoil stations.

Lukoil has started transforming the Hungarian Jet stations in October and plans to complete the process in Q1 next year.

Lukoil plans to open two more petrol stations in Hungary within weeks, said deputy managing director Miklós Sárosi. It also plans to build more stations. In 5-10 years, the company aims to double its market share in Hungary from around 5.1% through buying new stations or networks, he added.

Lukoil has 729 employees in Hungary. (MTI – Econews)