Russian oil major buys up American PETROL STATIONS

The Getty Petroleum Marketing Inc. gasoline stations will quite soon be known as Getty/LUKoil now that the Russian-based petroleum giant has purchased 72% of the Getty stock and is out to buy up the rest. The Getty directors conceded December 6th to a deal in which LUKoil will buy its ordinary shares at $5 a piece to a total $70 million, according to RIA Novosti. The Getty Petroleum Marketing Inc. possesses a network of 1,300 gasoline stations in 13 states of the US Atlantic coast northeast and centre. The company is also an ambitious supplier of fuel oil and other petroleum products. The US-British BP Amoco is responsible for gasoline supplies to the Getty stations on a recent contract.