Two Finnish cities tear down rental contracts with Lukoil unit

HELSINKI, Dec 2 (PRIME) -- The Finnish cities of Loviisa and Lahti have broken the lease contracts with Teboil, a subsidiary of Russian oil major Lukoil, for land for fueling stations because of political reasons, Anita Narhi, member of the Lahti city committee, told PRIME late on Thursday.

“The committee made a unanimous decision to break the contract, as there is no possibility to continue cooperation with the Russian oil company under the current circumstances,” she said

Other Finnish cities made similar decisions, while business newswire Kauppalehti reported that Loviisa also broke a cooperation contract with Teboil. The newswire said that the company had lost about 20% of its franchisees in Finland, and many large state clients like the police and postal services also cancelled their contracts with the Russian company.

Oy Teboil Ab said earlier that its share on Finland’s market of oil products amounted to 29% as of July 2021. The company’s subsidiary operates a network of 432 fuel filling stations, eight oil tank farms, and one gas storage.

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