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Ukrainian oil company and Shell to form joint venture

      RBC, 22.08.2007, Moscow 17:43:16.Shell International Petroleum Company Ltd and Alliance, a Ukrainian oil company, have formed a joint venture to operate a network of gas-filling stations in Ukraine, Shell's press office reported today. Shell expects to hold a 51-percent stake in the venture, while Alliance will control 49 percent. The venture will incorporate, reconstruct and modernize 150 gas stations.

      The joint venture is expected to claim 15-20 percent of the Ukrainian oil product market, according to Alliance's President Musa Bazhayev, as Shell will contribute its funds, licenses and brand name.

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