Lukoil is a totally independant, publicly traded Russian company. In terms of proven oil reserves, it is second only to Exxon/Mobil. Lukoil acquired Getty to gain a toehold in the US market. They have now purchased the Mobil stations on the east coast (which Exxon/Mobil had already sold to ConocoPhilips).
Quote:
LUKOIL Subsidiary Getty Petroleum Marketing Inc. Closes Deal to Acquire Gasoline Stations from ConocoPhillips.
East Meadow, NY, May 21, 2004 …Getty Petroleum Marketing Inc., a wholly owned subsidiary of OAO LUKOIL, announced its acquisition of 779 Mobil-branded gasoline stations in New Jersey and Pennsylvania from ConocoPhillips. According to the terms of this transaction, Getty Petroleum Marketing Inc. has acquired 308 Mobil branded fee and lease properties plus contracts to supply an additional 471 Mobil branded locations. Collectively, these sites generate over 1.1 billion gallons of gasoline sales annually and will more than double the amount of Getty's current light product sales in the United States.
Founded in 1991, LUKOIL is one of the world’s largest vertically integrated oil companies and currently ranks second in the world in terms of proven reserves. As a publicly traded company, LUKOIL is the most diversified Russian oil company and the first to have ventured abroad to make a significant commitment to the U.S. market. LUKOIL is Russia's number one petroleum refiner and with this acquisition, has more than 4,700 gasoline stations worldwide and over 2,000 outlets in the United States. It is publicly traded on numerous international stock exchanges and most recently was listed on the London Stock Exchange.
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