Łukoil buying up independent petrol stations

Łukoil entered the Polish market when it acquired the JET network and its 83 petrol stations. It has since taken over four BP outlets, pushing its total to 87 and making it the number six player behind Orlen, Lotos, BP, Shell and Statoil. According to unofficial information though, it is primed to move further up the list after signing deals to acquire around 30 more independent stations. Negotiations are proving quite easy for the Russian company too, as many independent stations are struggling financially. Some of them are even approaching Łukoil directly to sell their businesses. "I had a choice between letting in the liquidators or selling to Łukoil, I chose the latter," said one independent station owner. Łukoil representatives are remaining quiet, although they admit independent stations are a very attractive target for the company. Łukoil wants to have 100 stations by the end of the year, rising to 300 in a few year's time. 200 of these are expected to come from acquisitions. (Puls Biznesu, p. 8) R.M.