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Chevron joins race to explore potential purchase of Lukoil assets: Reuters
Chevron considers buying overlapping assets from Lukoil’s $22 billion international portfolio after U.S. Treasury clearance, with Lukoil producing 0.5% of global oil output abroad.
- On Monday, Chevron, oil major, is studying options to buy global assets of sanctioned Russian oil firm Lukoil, five sources told Reuters; Chevron said it complies with laws and declines comment.
- The U.S. Treasury last week cleared potential buyers to talk to Lukoil, sanctioned last month by the United States as part of President Donald Trump's administration efforts.
- Lukoil's portfolio spans refineries, fields and retail stations across multiple regions, including three refineries in Europe and stakes in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt, Nigeria, and the U.S.
- Chevron would join Carlyle and other bidders in the race for the portfolio worth at least $20 billion, targeting overlapping assets rather than the entire Lukoil portfolio.
- Operational links in Nigeria and Iraq mean ownership shifts could change local control as Lukoil holds a stake in Nigeria's OML-140, operated by Chevron, and runs Iraq's West Qurna 2 where Exxon Mobil exited last year.
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26 Articles
26 Articles
Chevron is exploring the acquisition of Lukoil's international assets. The global energy market may be preparing for a new balance of power due to sanctions and the oil market crisis.
·Budapest, Hungary
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Another US company is considering buying Russian Lukoil assets. US oil company Chevron is considering buying foreign assets of Russian Lukoil, which is under US sanctions. The company may be interested in assets where their interests already overlap, in particular in Kazakhstani fields and a Nigerian project.
·Kyiv, Ukraine
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Total News Sources26
Leaning Left3Leaning Right2Center4Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 33%
C 45%
R 22%
Factuality
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