LUKoil Plans to Increase Share of North-West Petrol Market to 20% by 2005

LUKoil plans to increase its share of the retail market for petrol in the Russian North-West from 7% to 20% by the year 2005. This was revealed by company president Vagit Alekperov on Friday, January 20 while talking with journalists. According to Alekperov, LUKoil currently has 75 filling stations in the North-West but by 2005 this figure should have grown to 200.

Alekperov stressed that 'these will be new filling stations built by the company,' adding that 'the figures mentioned do not include possible major purchases by the company in this sector.' According to Alekperov, of 20 LUKoil filling stations currently under construction, 15 are in St. Petersburg.

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