The United States has extended the deadline for transactions involving the sale of assets of Lukoil International GmbH (LIG) and related foreign assets of the company Lukoil. The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has issued a general license allowing necessary negotiations and contracts with Lukoil regarding the sale of LIG or any of its subsidiaries until January 17, 2026. All operations required for the sale of the company’s foreign assets remain permitted until that date.
This is reported by Business • Media
Potential Buyers of Lukoil’s Foreign Business
- Among the companies interested in acquiring Lukoil’s international assets are American oil giants Exxon Mobil and Chevron, private equity firm Carlyle, and the Abu Dhabi conglomerate IHC.
- Additionally, individual businessmen have shown interest in participating in the negotiations.
Despite the interest from large companies, Lukoil prefers the offer from the American bank Xtellus Partners. This bank has proposed to conduct the transaction on a non-cash basis – involving the exchange of shares from American investors to be returned to the Russian oil company in exchange for its foreign assets.
“If Lukoil does not finalize a deal by January 17, its foreign assets will be left in limbo and may be confiscated by local authorities.”
Shell Ends Partnership with Russian Company
At the same time, the British oil and gas company Shell has announced its intention to terminate its partnership with the sanctioned Russian company Rosneft. Currently, Shell and Rosneft jointly own a stake in a Kazakhstani oil pipeline. In the future, Shell plans to retain its stake in the Caspian Pipeline Consortium but will no longer be a co-owner with the Russian side.