US oil company explores purchase of Lukoil's foreign assets
Photo: Exxon Mobil may acquire some of Lukoil's international assets (Getty Images)
US oil company Exxon Mobil is considering options to acquire part of the international assets of Russia’s energy giant Lukoil, which is under sanctions, Reuters reports.
Sources told the outlet that Exxon is weighing the purchase of Lukoil's assets in Kazakhstan, where the American and Russian companies both hold stakes in the Karachaganak and Tengiz fields. Chevron is also examining potential acquisition options.
In addition, Exxon may consider submitting a bid for the West Qurna 2 oil field in Iraq, operated by Lukoil. The American company had long served as operator of another project, West Qurna 1, but exited last year. Exxon declined to comment.
Lukoil owns three refineries in Europe, stakes in oil fields in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt, and Nigeria, as well as hundreds of retail fuel stations worldwide, including in the United States.
According to last year's data, the company's foreign assets produce around 0.5% of global oil supplies.
As reported on Monday, November 17, US oil company Chevron is also exploring the possibility of acquiring Lukoil's international assets.
Chevron is considering acquiring not Lukoil's entire portfolio, but only those assets where the American firm already overlaps with the Russian oil giant.
Earlier, on Friday, November 14, Reuters reported that US private equity firm Carlyle is studying a potential purchase of Lukoil’s foreign assets.
