Russia's Lukoil is selling its international assets after the U.S. imposed sanctions on the company.Washington refused to approve the sale of assets to Swiss commodity trader Gunvor, throwing Lukoil's operations in disarray
Russia's Lukoil is selling its international assets after the U.S. imposed sanctions on the company.
Washington refused to approve the sale of assets to Swiss commodity trader Gunvor, throwing Lukoil's operations in disarray and leading to a scramble of potential buyers.
The U.S. Treasury cleared potential buyers to talk to Lukoil until December 13. They will need separate approval for specific deals. U.S. oil major Chevron is studying options to buy some global assets of Lukoil, sources have said. U.S. private equity firm Carlyle is also exploring options.
Below are details about Lukoil's international assets:
ESTIMATED VALUE
Lukoil's international assets, spanning upstream oil and gas projects, refining, and more than 2,000 filling stations across Europe, Central Asia, the Middle East and the Americas, are estimated to be worth about $22 billion.
The company produces 0.5 million barrels of oil per day outside of Russia, or 0.5% of global oil output, in countries such as Iraq, Kazakhstan and Azerbaijan.
UPSTREAM OPERATIONS
Middle East
Lukoil's biggest foreign asset is a 75% operational stake in Iraq's West Qurna 2 oilfield, one of the world's largest.
Lukoil has declared force majeure at the field after Iraq halted all cash and
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