Shell Exits Ukraine Market Selling Fuel Stations to Ukrnafta (1)

Shell Plc will exit Ukraine’s war-impacted market after selling its stake in a domestic subsidiary to the nation’s largest oil producer.

Ukrnafta PJSC will acquire Shell’s 51% share in a local operator of 118 gas stations, it said in a statement on Tuesday. The price of the transaction, which is pending approval by Ukraine’s antitrust agency, hasn’t been disclosed. It will expand Ukrnafta’s gas station network by nearly a fifth.

Shell, which ranks among Ukraine’s top ten petrol station networks by sales volume, has been present in the country since July 2006. The company decided to exit after Ukraine’s top ...