OAO LUKOIL has signed agreements with MOL Plc. and Norm Benzinku't Kft regarding the disposal of its assets in the Czech Republic, Slovakia, and Hungary, according to the company's press release.
Slovnaft Ceska Republica, Spol. S.R.O. (a subsidiary MOL Plc.) will acquire a chain of 44 LUKOIL refueling complexes in the Czech republic.
Norm Benzinku't Kft will purchase LUKOIL's refueling complexes in Hungary (75 filling stations) and Slovakia (19 filling stations).
Both transactions are expected to be closed before the end of 2014.
The decision to dispose of the assets was made pursuant to LUKOIL's strategy to streamline its sales of petroleum products.
It will be recalled that LUKOIL arranged for the sale of 100% of LUKOIL-Ukraine comprising 240 filling stations and six petroleum storage depots in Ukraine to Austria's AMIC Energy Management GmbH last week. The company keeps the transaction value private.
OAO LUKOIL (tax number: 7708004767) is Russia's second largest oil producer. In 2013, LUKOIL increased production of hydrocarbons to 116.6 million tones. As of December 31, 2013, the company's proven SEC compliant reserves totaled 17.4 billion barrels of oil equivalent including 13.5 billion barrels of oil and 23.6 trillion cubic feet of gas.
The company's authorized capital is RUB 21,264,081.375 represented by 850,563,255 common shares at par value of RUB 0.025 currently in circulation. The largest block of the company's shares is owned by its management.
US GAAP net profit of OAO LUKOIL for 2013 decreased by 30% to $7.627 billion from $10 925 billion the year before. Sales revenue increased by 1.6% year-on-year to $141.452 billion. EBITDA (earnings before interest, income tax, depreciation, and amortization) totaled $16.668 billion.
RAS net profit of LUKOIL for H1 2014 grew by 28% to RUB 202.519 billion from RUB 158.535 billion the year before. Revenue increased by 21% to RUB 220.172 billion from RUB 182.005 billion. Income from participation interests in other entities was RUB 200.292 billion against RUB 160.882 billion the year before.