Russia's Lukoil oil company has reached an agreement to sell the majority of its foreign assets, valued at approximately $22 billion, to the American private equity firm Carlyle Group. The deal involves the transfer of LUKOIL International GmbH, the subsidiary responsible for overseeing the company's global operations outside of Russia.
Operative Information Center-OMM reports, citing foreign media outlets, that the transaction is currently pending approval from United States authorities. According to an official statement from Lukoil, the agreement specifically excludes the company's assets in Kazakhstan, which will remain under Lukoil's ownership and continue to operate under existing licenses. The company also noted that it remains in discussions with other potential buyers regarding various business interests.
The decision to divest LUKOIL International comes as a strategic response to restrictive measures and sanctions imposed by several countries against Lukoil and its subsidiaries. As one of Russia's largest integrated oil and gas companies, Lukoil has faced increasing operational challenges in Western markets. This move reflects a broader trend of Russian energy firms restructuring their international portfolios to mitigate the impact of global geopolitical tensions and financial restrictions. The Carlyle Group, a major global investment firm, is expected to integrate these assets into its energy portfolio upon final regulatory clearance.
