Lukoil's Global Asset Sell-Off: A High-Stakes Restructuring

Lukoil is offloading its international assets due to U.S. sanctions. The U.S. Treasury has authorized negotiations for buyers until December 13, with companies like Chevron and Carlyle interested. Lukoil's assets, valued at $22 billion, include major oil and gas operations across the globe.

In response to U.S. sanctions, Russia's energy giant Lukoil is shedding its international assets, a move that has created a scramble among potential buyers. The U.S. Treasury has given interested parties until December 13 to negotiate, requiring further approvals for specific deals.

Among the interested parties eyeing Lukoil's extensive assets are U.S. oil major Chevron and private equity firm Carlyle. With assets valued at $22 billion, Lukoil's portfolio includes substantial oil and gas operations from Iraq to Mexico, and a sprawling network of filling stations.

Lukoil's divestment drive encompasses its prime stakes in Middle Eastern oilfields, significant holdings in Central Asian and African projects, as well as major refining and retail operations in Europe and the Americas. The stakes are high as global players evaluate these offerings amid geopolitical tensions.

(With inputs from agencies.)