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Shell does not intend to invest in Russian oil refinement
Publish date: November 25, 2005
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Shell does not intend to invest in Russian oil refinement
According to Kris Finlayson, the chairman of Shell, his company does not plan to invest in oil refinement industry in Russia.
“Nowadays we do not have plans to invest in oil refinement, said Finlayson. The largest Shells investment sector is upstream (hydrocarbons investigation and extraction). In Russia Shell rapidly develops oil products marketing and builds its petrol stations, mostly in Moscow and St Petersburg. Today Shell has 10 petrol stations in St Petersburg and plans to build some more, Interfax reported.
Shell won a tender in Moscow in 2003 for building petrol stations with alternative fuel in the frames of Moscow city program of alternative fuel management. The goal of this program is to substitute petroleum fuel of municipal transport with gas fuel.
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