Chevron is interested in acquiring Lukoil's assets

This was reported by Reuters, citing its own sources.

Last week, the US Treasury Department granted potential buyers permission to negotiate with Lukoil regarding foreign assets.

Chevron will join Carlyle and other companies in the race for Lukoil's portfolio, worth at least $20 billion.

According to Reuters, Chevron is exploring opportunities to acquire Lukoil's assets where the companies overlap, rather than the entire portfolio.

Lukoil produces about 2% of the world's oil in russia and abroad. The company is currently looking for buyers for its international assets, which produce 0.5% of the world's oil and are estimated to be worth about $22 billion, based on 2024 data.

Lukoil has three oil refineries in Europe, stakes in oil fields in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt and Nigeria, as well as hundreds of retail petrol stations around the world, including in the United States.

The company owns 13.5% of the Karachaganak field and 5% of the Tengiz field in Kazakhstan, whose shareholders also include Chevron, Exxon Mobil, Eni and Shell.

These fields are the main source of oil for the CPC pipeline, which transports more than 1.6 million barrels of oil per day, or 1.5% of global oil demand, to world markets via russia.

The russian company also has a stake in the Nigerian offshore licence OML-140, which is operated by Chevron.

Source: Economic Pravda, Reuters