LUKoil Sells American Unit

EAST MEADOW, New York — LUKoil Americas said Wednesday that it has sold its Getty Petroleum Marketing unit to Cambridge Petroleum Holding.

Terms of the deal, which was completed on Monday, weren't disclosed. The company said it would continue to operate its existing LUKoil-branded gasoline stations in the mid-Atlantic region through subsidiary LUKoil North America.

LUKoil Americas is a unit of LUKoil and operates through a subsidiary network of more than 600 mid-Atlantic outlets. Cambridge Petroleum is an affiliate of Cambridge Securities, an investment firm specializing in the oil and gas services industry.

(AP)

Read more