Russia’s Lukoil PJSC agreed to sell most of its international assets to private equity giant Carlyle Group, three months after being hit by US sanctions.
Lukoil has approached the Russian government seeking changes to the oil tax formula as discounts on Russian crude exceed $20 per barrel, a level that would force producers to make net payments into the budget rather than receive compensation, according to The Moscow Times, citing Izvestia.
Libya and Russia have held talks aimed at strengthening cooperation in the oil and gas sector. Khalifa Rajab Abdul Sadiq, Libya’s Minister of Oil and Gas, met with the Russian Ambassador to Libya, Aidar Aganin, in Tripoli on Monday.
Russia on Tuesday asserted ownership of all oil assets a state Russian company is developing in Venezuela, following the claims of U.S. President Donald Trump that major American and Western oil firms would help revive Venezuela’s oil industry.
Falling oil prices and strengthening Russian currency are set to slash Russia’s oil and gas revenues by nearly 50% in December from a year earlier, to the lowest level since August 2020, according to Reuters calculations.
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 […]