Lukoil's assets abroad, estimated at about $22 billion, could go to a large American company
US investment giant Carlyle is considering buying Lukoil's international assets at a time when US sanctions against the Russian company are complicating global oil deals.
An American company has expressed its interest in Lukoil assets. PHOTO: Facebook
US investment giant Carlyle is considering buying Lukoil's international assets at a time when US sanctions against the Russian company are complicating global oil deals.
Reuters cites sources as saying that US investment giant Carlyle has expressed interest in taking over the international assets of Russian oil company Lukoil.
At this moment, the process is in an early phase, and Carlyle representatives are evaluating the possibility of obtaining a special American license, necessary to be able to carry out the transaction legally, in the conditions in which Washington has imposed restrictions on Russia.
One of the sources, however, pointed out that the firm could ultimately decide to abandon the acquisition, given the complexity of the regulatory framework.
The American company has officially informed Lukoil about its intention, but so far the Russian company has not sent a response. For their part, Carlyle representatives declined to provide public statements.
The interest comes amid tough US sanctions against Lukoil as part of Washington's efforts to pressure the Kremlin to return to negotiations over the Ukraine war. In the past, US authorities have blocked Lukoil's attempt to sell its assets to Swiss company Gunvor before the November 21 deadline imposed by the sanctions.
Lukoil, which contributes about 2 percent of global oil production, is currently trying to find buyers for its international operations. They represent more than 0.5% of global production and are estimated, according to 2024 data, to be around 22 billion dollars.
Over the years, the company has been considered the most active in foreign markets among major Russian oil producers, playing a key role in expanding Moscow's economic influence.
Lukoil's portfolio includes three European refineries – in Romania, Bulgaria and the Netherlands – as well as interests in oil fields in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt and Nigeria. The company also operates hundreds of fuel stations globally, including in the United States.
In Romania, Lukoil owns the Petrotel refinery in Ploiesti and a network of over 300 gas stations.
The authorities in Bucharest requested a derogation from the deadline for the application of the American sanctions, as Romania, the Republic of Moldova and Bulgaria face the risk of disrupting the fuel market and significant price increases if Lukoil's assets were suddenly blocked.
