Russian oil major Lukoil may decide by the end of the year to sell all of its gas stations in Russia, a source in the company told TASS.

The company has already received three bids for the acquisition of the gas stations and will send offers to potential foreign investors in the near future, the source said.

“By the end of the year, Lukoil may decide on selling all gas stations in Russia. The company’s management was offered several options for selling the business: to sell one third of the network of gas stations in three parts during the year – by 10% a quarter, to look at the market situation and if there are negative factors – to sell all Russian gas stations in the next two years,” the source said.

Now the company is accepting applications from potential investors. The press service of Lukoil declined to comment.