US EditionRussia's Lukoil, under sanctions, agrees to sell international assets to US Carlyle Group
Lukoil's deal with Carlyle excludes Kazakhstan assets and awaits US Treasury approval amid sanctions that have pressured Russian energy exports.
- Lukoil PJSC agreed to sell its foreign assets to Carlyle Group, including Lukoil International GmbH, three months after US sanctions, according to the company statement.
- The US last October blacklisted Lukoil and Rosneft, prompting asset sales after a deal with Gunvor Group collapsed when the US Treasury described Gunvor as the Kremlin 'puppet', and waivers due to expire Feb. 28 increased pressure.
- The firm's vast foreign holdings span refineries and major oilfields across multiple regions, including West Qurna 2 oilfield in Iraq, while sanctions forced trading wind-downs and bankruptcy of Oy Teboil Ab.
- Lukoil said the deal will preserve jobs and stabilize operations while Kazakhstan formally asked US authorities to approve purchases of Lukoil stakes, reflecting government intervention.
- Lukoil warned the agreement is non-exclusive and requires approval from the US Department of the Treasury's Office of Foreign Assets Control, while Carlyle said the deal depends on due diligence and regulatory approvals; Carlyle manages $474 billion.
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American investment firm Carlyle Group has agreed to acquire most of the foreign assets of Russia's largest oil company, Lukoil, valued at $22 billion.
Lukoil said on Thursday that it had reached an agreement...
The US-sanctioned Russian oil company Lukoil plans to sell its foreign business to the US investment company Carlyle. A contract had been concluded, but it was dependent on the approval of the US financial authority, Lukoil announced in Moscow. At the same time, it is negotiating with other potential buyers.Carlyle has not issued any comments yet.Sanctions against Russian oil giantsThe government of US President Donald Trump imposed sanctions on…
Carlyle to acquire Lukoil's overseas business under US sanctions deadline
Carlyle Group has reached a provisional agreement to acquire the international assets of Russian oil firm Lukoil, following increased pressure from US sanctions introduced in October. The deal, announced by both parties, excludes Lukoil's operations in Kazakhstan and is subject to regulatory approval from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC). Lukoil has until 28 February to comply with a US directive requir…
U.S. Carlyle Group Agrees to Buy Most of Lukoil’s Foreign Assets
Lukoil announced Thursday that it would sell its foreign assets to the American investment firm Carlyle Group, coming months after the United States sanctioned the major oil producer along with Rosneft.
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