As a result of the withdrawal from Russia due to the invasion of Ukraine, Shell has sold its service station network to local fuel retailer Lukoil. The transaction was confirmed last month and the company has now stated that it will operate and develop the network under the Teboil brand.
The decision was made to preserve the business as a separate subsidiary of the company and will mark the arrival of the fuel brand to the Russian market. The company has been acquired by Lukoil since 2005 but local customers only know it as a supplier of lubricants.
”We are happy to have this opportunity to keep the trust of our clients and continue our work under the new Teboil brand, especially taking into account the high standards of service. Lukoil has the most high-tech refineries in Russia, as well as innovative high-quality products. It opens up a lot of new development opportunities,” said Vitaly Maslov, General Director of Teboil Russia.
The retailer has already embarked on a step-by-step rebranding of the filling stations. Teboil, originally a Finnish company founded in 1934, is still one of the largest fuel businesses in its country of origin. Russia started to import its products during the 1960s – there’s now over 150 products of the brand in today’s market.
Teboil stations will offer new branded types of fuels as well as its own loyalty programme, integrated with Lukoil’s. Teboil Russia team will be led by Maslov himself, former Head of Shell forecourt business in Russia. The lubricants plant located in the Tver region, which Shell also sold to the firm, will manufacture Teboil-branded products as well.
Extracted in full from: Russia: Lukoil to rebrand Shell service station network as Teboil (petrolplaza.com)