Another US company shows interest in acquiring Lukoil’s assets – Reuters

Agency sources reported that Chevron may not acquire Lukoil’s entire portfolio, but only the assets where the company already has joint operations with the Russian oil giant.

In particular, both companies produce oil at Kazakhstan’s Karachaganak and Tengiz fields. In addition, Lukoil holds a stake in Nigeria’s OML-140 offshore project, where Chevron acts as the operator.

Reuters contacted Chevron for comment. The company declined to comment on the potential acquisition of Lukoil’s assets but emphasized that it complies with all applicable laws and regulations governing its business.

On Friday, November 14, Reuters reported, citing a source, that the US private firm Carlyle is also exploring the possibility of acquiring Lukoil’s foreign assets.

US sanctions against Lukoil

In October, the US announced sanctions against Russia’s two largest oil companies, Rosneft and Lukoil. The new restrictions apply not only to the two oil giants but also to 36 of their subsidiaries.

Following the sanctions announcement, several EU countries where Lukoil refineries operate began seeking solutions to prevent the shutdown of the plants.

In particular, the Bulgarian parliament allowed the government to appoint a new head of the refinery. The plant could be nationalized and then sold to new owners. Meanwhile, Romania is seeking a US waiver to delay the implementation of the sanctions.

Recently, Lukoil declared force majeure at the massive West Qurna-2 oil field in Iraq and halted its operations.

Moldovan officials are discussing with Lukoil the possibility of purchasing the company’s facilities at Chișinău Airport. The Russian company has been offered to sell infrastructure at the airport, including an aviation fuel storage facility.