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PHILADELPHIA -- Lukoil Oil Co. acquired 11 Philadelphia Getty gas stations and convenience stores for $9.8 million, according to the Philadelphia Business Journal.
The highest price paid for a station was $1.6 million; the lowest was $652,700, according to Philadelphia property records.
Lukoil bought 750 Mobil gas stations throughout New Jersey and Pennsylvania in 2004 and converted them to Lukoil. In 2000, the Russian oil company bought Getty Petroleum Marketing Inc. and has been making the switch at more than 1,000 stations. Getty continues to divest service station properties to Lukoil, according to the report, selling in November 164 properties and 339 other stations and its home heating business.
Getty Petroleum Restructures, Sells Assets