Lukoil Americas sells Getty Petroleum unit

AP News
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Posted: Mar 02, 2011 8:07 PM
Lukoil Americas sells Getty Petroleum unit

Lukoil Americas Corp. said Wednesday it has sold its Getty Petroleum Marketing Inc. unit to Cambridge Petroleum Holding Inc.

Terms of the deal, which was completed on Monday, weren't disclosed.

The company said it will continue to operate its existing Lukoil-branded gasoline stations in the mid-Atlantic region through subsidiary Lukoil North America LLC.

Lukoil Americas is a unit of energy company OAO Lukoil, Russia's biggest independent oil producer, and operates through a subsidiary network of more than 600 mid-Atlantic outlets.

Cambridge Petroleum is an affiliate of Cambridge Securities LLC., an investment firm specializing in the oil and gas services industry.