February 7, 2018 / 10:36 AM / 3 months ago

Shell Russian executive says downstream impact of Western sanctions was minimal

TORZHOK, Russia (Reuters) - International oil major Royal Dutch Shell’s (RDSa.L) Russian downstream business felt minimal impact from Western sanctions on Russia, the branch’s head Sergei Starodubtsev said on Wednesday, adding the firm was fully compliant with international law.

Shell Neft, the Russian arm of the global oil company, plans to double the number of petrol stations in Russia, currently at 259, in the next four to five years, and sees fuel sales rising 8 percent to 12 percent this year, Vitaly Maslov, head of Shell’s Russian retail business, told reporters.

    (This version of the story was refiled to clarify sanctions impact was minimal on company’s downstream business only)

    Reporting by Olesya Astakhova; Writing by Vladimir Soldatkin; Editing by Polina Ivanova

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below