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MEDIA-Lukoil seeks to sell over 700 fuel stations in Russia - Kommersant

Reuters - UK Focus

March 29 (Reuters) -

* Russia's second largest oil producer Lukoil looks for investors to sell about a third of its fuel stations in Russian regions, Kommersant newspaper reported on Wednesday citing unnamed sources in the market and in the company.

* The reason for the sale is that fuel stations became unprofitable after the rise of fuel excise duties, the newspaper said referring to a source.

* Lukoil discusses the sale with the Qatar Investment Authority, Swiss-based commodities giant Glencore (Frankfurt: 8GC.F - news) and Chinese investors, according to Kommersant.

* Lukoil wants to sell the business in three parts, each of more than 250 fuel stations. -- Source link: http://bit.ly/2nhWnWM -- Note (Stockholm: NOTE.ST - news) : Reuters has not verified this story and does not vouch for its accuracy. (Reporting by Moscow newsroom)