LUKOIL Americas Corporation Announces Sale of Getty Petroleum Marketing Inc. to Cambridge Petroleum Holding Inc.

EAST MEADOW, New York, March 2, 2011 - LUKOIL Americas Corporation (LUKOIL Americas) announced today the sale of
its subsidiary, Getty Petroleum Marketing Inc., to Cambridge Petroleum
Holding Inc. (Cambridge Petroleum), an affiliate of Cambridge Securities LLC,
a firm specializing in investments and operations in the oil and gas services
industry. The sale was completed on February 28, 2011, following an extensive
review and sale process. Terms of the sale were not disclosed.

After the sale, LUKOIL Americas will continue, through its subsidiary
LUKOIL North America LLC, to operate its existing LUKOIL branded network in
the Mid-Atlantic.

Commenting on the transaction, Vadim Gluzman, CEO of LUKOIL Americas,
said that "LUKOIL Americas will continue to focus its business strategy and
future growth on its LUKOIL branded assets."

Bjorn Aaserod, CEO of Cambridge Petroleum, commented, "we are impressed
with Getty's infrastructure, its excellent talent pool and growth prospects."

About LUKOIL Americas

LUKOIL Americas is a subsidiary of OAO LUKOIL, a major international
vertically integrated energy company. LUKOIL Americas operates through its
subsidiary a network of over 600 LUKOIL branded outlets in the Mid-Atlantic.

George Wilkins, +1-856-722-6436, gwilkins at lukoilusa.com