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Image courtesy of Wikimedia Commons.

Russia’s Lukoil sold a 100 percent stake in Lukoil-Ukraine CFI to Austria-based AMIC Energy Management GmbH.

Lukoil-Ukraine owns about 240 filling stations and 6 petroleum tank farms in Ukraine.

The two companies are preparing to sign a sales-and-purchase contract, Lukoil said Thursday.

Lukoil is the largest privately-owned oil company in Russia.

AMIC is an independent energy management firm based in Vienna.

Lukoil’s sales have fallen 42 percent in Ukraine this year, CEO Vagit Alekperov said in a televised interview.

“Given that Lukoil-Ukraine is one of the top five leaders of the Ukrainian fuel market in terms of the number of filling stations and the volume of retail petroleum-product sales, its purchase is a strategically important step to improve AMIC’s investment portfolio in Central and Eastern Europe,” Managing Director of AMIC Dr. Günter Maier said.