The Russian oil company “Lukoil” has officially announced the conclusion of an agreement with the American investment fund Carlyle regarding the sale of its foreign assets. The company notes that assets in Kazakhstan are not included in this agreement: they will remain under Lukoil’s control and will continue to operate in accordance with the existing license.
This is reported by Finway
The Agreement Requires Approval from US Regulators
To complete the transaction, approval from the Office of Foreign Assets Control (OFAC) of the US Treasury is necessary. Currently, the parties are awaiting the appropriate permit, which is a standard procedure for such international agreements involving companies that are under sanctions.
“The company is also continuing negotiations with other potential buyers,” the press service stated.
Asset Structure and Interest from Other Players
Lukoil announced its intention to divest foreign assets following the imposition of US sanctions in October 2025. The company’s asset list includes three oil refineries in Europe, stakes in oil fields in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt, and Nigeria, as well as hundreds of gas stations in various countries around the world, including the US.
Previously, Swiss company Gunvor, linked to Gennady Timchenko – a close associate of Vladimir Putin – expressed interest in purchasing these assets. However, due to the position of the US Treasury, which indicated that it would not approve the deal until hostilities ceased, Gunvor abandoned its acquisition plans.
After this, Lukoil’s assets attracted interest from other major companies, including American oil giants Exxon Mobil and Chevron, Hungarian company MOL, and Austrian businessman Bernd Bergmair, known as the former owner of Pornhub.