Saudi Firm Midad Among Frontrunners to Buy Lukoil's Global ...

Saudi Firm Midad Emerges as Leading Bidder for Lukoil’s Global Assets

Saudi Arabia’s Midad Energy has emerged as one of the leading contenders to buy Russian oil major Lukoil’s international assets, a deal that could reshape ownership of roughly $22 billion worth of oilfields, refineries, and fuel stations as U.S. sanctions force Moscow-linked firms to unwind overseas holdings, according to people familiar with the matter. Lukoil is seeking to sell its foreign operations after sweeping U.S. sanctions imposed in Oc…

Geopolitical Gambit: How a Saudi Bid Could Redraw the Global Energy Map

NEWS BRIEF Saudi Arabia’s Midad Energy has positioned itself as a leading bidder for Lukoil’s $22 billion international portfolio, leveraging Riyadh’s diplomatic ties with both Moscow and Washington. The sale of Lukoil’s global assets, forced by sweeping U.S. sanctions, could reshape energy alliances, with Midad proposing an all-cash deal to be held in escrow until […] The post Geopolitical Gambit: How a Saudi Bid Could Redraw the Global Energy …

Saudi firm Midad among frontrunners to buy Lukoil's global ...

Saudi Arabia’s Midad Energy emerges as frontrunner for Lukoil’s $22bn assets

The US Treasury has already blocked two other bidders - Gunvor and US bank Xtellus Partners - from buying Lukoil assets, highlighting geopolitical hurdles The post Saudi Arabia’s Midad Energy emerges as frontrunner for Lukoil’s $22bn assets appeared first on Gulf Business.

Midad among frontrunners to buy Lukoil’s global assets

Saudi Arabia’s Midad Energy has emerged as one of the leading contenders to buy Russian oil company Lukoil’s international assets, leveraging deep political ties with Moscow and Washington, three people familiar with the matter said. The assets, valued at about $22 billion and spanning oilfields, refineries and thousands of fuel stations worldwide, have drawn bids from about a dozen investors, including US oil majors Exxon Mobil and Chevron and …