Exxon Mobil and Abu Dhabi National Oil Co. are among several companies showing interest in acquiring international assets of the sanctioned Russian oil company Lukoil, Bloomberg reported. Reuters confirmed that Exxon is actively exploring options as well. Earlier, US energy giant Chevron and the investment firm Carlyle Group had already expressed interest in Lukoil’s overseas operations. While some potential buyers are reportedly […]
The U.S. fund The Carlyle Group is studying the possibility of acquiring the overseas oil and gas assets held by Lukoil, Russia’s second-largest oil producer. According to international media reports published on Thursday, November 13, the deal concerns a portfolio valued at around $22 billion based on Lukoil’s 2024 accounts.
The company is has started considering bids from potential buyers, according to a statement posted on its website late on Monday. The divestment process is being conducted under a wind-down license from the US Treasury’s Office of Foreign Assets Control, which Lukoil said it could ask to be extended “to ensure uninterrupted operations of its international assets.”
Lukoil is the most internationally diverse of Russia’s oil giants, with upstream businesses in former Soviet countries such as Kazakstan, Uzbekistan and Azerbaijan, as well as in Egypt, the United Arab Emirates and West African nations of Ghana, Nigeria, Cameroon and Congo.