Oil
The Russian oil company Lukoil, which will fall under U.S. sanctions on Nov. 21, has announced the sale of its assets abroad, which would also mean the sale of its company in Serbia, although it had planned to expand its retail network according to the annual report for 2024, Forbes Serbia reported on Oct. 29.
Lukoil has been operating in Serbia for 22 years and, according to financial data, employs 140 people, has 26 registered branches, mainly gas stations, with some restaurants and mobile catering facilities. Despite the fact that this report mentioned complex operating conditions, mainly due to sanctions against the Serbian Oil Industry (NIS), selling the company has not been mentioned until last week – only the ending of business cooperation with NIS.
Lukoil Serbia claim that they “fully substitute the lacking quantities of derivatives” in Serbia. According to the 2024 financial report, Lukoil Serbia registered an increase in both income and profits last year. Total income grew from RSD46.8 billion to 56 billion. Profits grew from RSD915 million to 1.27 billion in one year.
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