US EditionChevron and Quantum Prepare $22 Billion Bid for Lukoil Assets
- Chevron Corp. and private equity group Quantum Energy Partners will join forces to buy Lukoil PJSC's international assets valued at $22 billion and split them, the Financial Times reported.
- U.S. sanctions last year pushed Lukoil PJSC to market its non-Russian assets after the United States imposed sanctions on Lukoil PJSC and Rosneft PJSC amid escalating Western restrictions.
- Assets span upstream and downstream operations across Europe, the Middle East and Africa, including refineries in Italy and the Netherlands, upstream stakes in Iraq, Uzbekistan and West Africa, and a retail network of more than 2,000 fuel stations.
- Earlier bidders faced political and regulatory pushback, including Lukoil's openness to one bid from Xtellus Partners, which the U.S. federal government refused to approve, and Gunvor Group's withdrawal after President Trump called it a Russian `puppet`.
- Other potential suitors named include Exxon Mobil Corp., Hungarian MOL, International Holding Co., Saudi Midad Energy, and Carlyle Group; Carlyle's talks reportedly broke down after October last year while Chevron Corp. has mulled a bid since last year.
44 Articles
44 Articles
InsideNoVA.com
US oil giant Chevron interested in Russian Lukoil's foreign assets: report
US oil giant Chevron and private equity firm Quantum Capital Group have partnered on a bid for sanctioned Russian oil company Lukoil's international assets, valued at $22 billion, the Financial Times reported Wednesday.
The US energy companies Chevron and Quantum Capital Group are preparing an offer of $22 billion (20.3 billion) for the purchase of the international assets of the Russian group Lukoil, affected by sanctions, announced financial Times Wednesday.
US oil giant Chevron and investment firm Quantum Energy Partners are preparing a joint bid to take over the foreign assets of Russian oil company Lukoil, the Financial Times (FT) reported today, citing sources familiar with the situation.
According to the FT, the companies have until January 17th to negotiate the Lukoil deals.
Chevron and Quantum Energy are considering a joint bid for Lukoil's international assets, following US sanctions and interest from major energy and investment groups.
Coverage Details
Bias Distribution
- 55% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
