Lukoil, Russia’s energy giant, has seriously lost its grounds across Africa, due to United States sanctions. Sanctions have complicated the company’s potential continuity in operating its largest oil field projects, grappling its investment particularly in Republic of Ghana, Democratic Republic of Congo, and Federal Republic of Nigeria. Reports indicated the sanctions are further dismantling most of […]
A Russian liquefied natural gas export facility delivered its first shipment to China since being sanctioned by the US in January, the latest sign of increased energy cooperation between Beijing and Moscow.
Crude oil demand is going to continue growing, but insufficient investment could tip fundamentals into imbalance, Russia’s Alexander Novak said today in Beijing.
Some Indian banks have started to consider financing Russian oil trades that involve only non-sanctioned entities and sanctions-compliant pricing and payments.
Abu Dhabi conglomerate International Holding Company has told the US treasury it is interested in buying Russian oil group Lukoil’s foreign assets, the company said in response to a Reuters enquiry. IHC, the Abu Dhabi conglomerate led by the UAE’s Sheikh Tahnoon bin Zayed Al Nahyan, joins a growing list of potential bidders for Lukoil’s global […]
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.
Lukoil has accepted an offer from Switzerland’s Gunvor Group to buy its international assets through the acquisition of Lukoil International, the Russian oil company said on Thursday. The parties have agreed on key terms and Lukoil has committed not to negotiate with other potential buyers. Gunvor must obtain OFAC permission and other required licences in relevant […]
Indian Oil Corp. is looking to buy 24 million barrels of crude oil from the Americas in the first quarter of next year to replace lost Russian supply after the latest U.S. sanctions on Rosneft and Lukoil.
Indian refiners have suspended new orders for Russian crude, Reuters has reported, citing unnamed sources as saying the industry awaited clarity from the government about navigating the new U.S. sanction context.
The bill for oil imports will rise if this happens. Russian crude—often sold at a discount to comparable grades—has come to account for a third of India’s total imports. Replacing this amount—over 1 million barrels daily—would likely push prices higher, adding to India’s total import bill. Crude oil imports account for 86% of domestic consumption.