US EditionExxon joins Chevron in pursuing parts of Lukoil global empire, sources say
Exxon, Chevron, and Abu Dhabi National Oil Co. consider acquiring Lukoil’s international assets before US sanctions on December 13 limit buyers, with a possible two-step sale process.
- Next month, Exxon Mobil Corp., Chevron Corp., Abu Dhabi National Oil Co. and Carlyle Group pursue Lukoil PJSC's international assets, rushing sales before U.S. sanctions take effect Dec. 13.
- The Trump administration's preference for a U.S. buyer may narrow the pool, following its previous block of Lukoil PJSC's sale to Gunvor Group.
- Exxon Mobil Corp. and Chevron Corp. are exploring a stake in Iraq's West Qurna 2 oil field, while Abu Dhabi National Oil Co. eyes Uzbekistan natural gas operations, and a financial buyer may acquire then resell assets.
- With discussions confidential, officials offered limited immediate comment as anonymous industry sources declined to be identified, underscoring the privacy of talks while a U.S. Treasury spokesperson did not immediately respond.
- Lukoil PJSC prefers selling its international assets as a single package, which could limit bidders ahead of U.S. sanctions Dec. 13, but a two-step sale via a financial buyer would reshape ownership of projects including West Qurna 2 and Uzbekistan gas operations.
23 Articles
23 Articles
Exxon joins Chevron in pursuing parts of Lukoil global empire, sources say
U.S. oil major Exxon Mobil has joined rival Chevron Corp in considering options to buy parts of sanctioned Russian oil major Lukoil's international assets, sources familiar with the matter said.
"The president of the management of ADNOC, he was asked by the president of Serbia, Aleksandar Vučić, his friend, to buy it and finally cut off the dilemma. He told him - you are also friends with Vladimir Putin, nice, you buy it so we don't have to worry anymore," said journalist Miša Brkić
According to sources from Bloomberg, Lukoil is trying to clear all its assets out of Russia quickly before the American sanctions enter into force completely.
The external assets of the Sanitated Company Lukoil, which include storage, refining and petrol from 11 countries, could be sold on food. According to Bloomberg, quoted by Moscow Times, American giants Exxon Mobile and Chevron, as well as oil company
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