Neste to divest its fuel retail business in Russia and sell it to Tatneft

Neftegaz.RU. Neste Corporation has signed an agreement to sell its fuel retail business consisting of 75 fuel stations and a terminal in St. Petersburg region to Tatneft. The divestment has no impact on Neste’s Marketing & Services' operations in Finland and the Baltic countries.

“Neste targets to become a global leader in renewable and circular solutions. The divestment of Russian fuel retail business will enable us to focus on our strategic priorities,” says Neste’s CEO Peter Vanacker.

“Over the years we have developed the operations in St. Petersburg area into a successful business with approximately 1,000 employees who are known for their outstanding customer service and commitment to high health, safety and environmental standards. We are happy that Tatneft is keen to develop our fuel retail business in Russia further,” continues Vanacker.

“Neste has an extensive network of over 1,000 stations in Finland and in the Baltic countries. We focus on developing our solutions and services in Finland and the Baltic countries, where we can supply Neste Renewable Diesel and other high-quality fuels from our own refineries,” says Panu Kopra, Executive VP of Marketing & Services business unit.