Lukoil agrees to sell foreign assets to Carlyle
Russia’s second-largest oil producer Lukoil has agreed to sell its international assets unit to U.S. private equity firm Carlyle Group, marking a major shift in the company’s overseas operations.
In a statement, Lukoil said it will sell LUKOIL International GmbH, the division responsible for managing the company’s foreign assets. The deal comes as Lukoil restructures its business amid mounting external pressures. Financial terms of the transaction were not immediately disclosed, News.Az reports, citing Reuters.
The company confirmed it will retain ownership of its assets in Kazakhstan, indicating that not all international operations are included in the sale.
Lukoil, along with Russia’s largest oil producer Rosneft, was placed under U.S. sanctions last year in response to geopolitical developments and stalled peace negotiations related to the war in Ukraine. Industry observers say the sanctions have accelerated efforts by Russian energy firms to reduce exposure in foreign markets.
The sale to Carlyle signals a strategic exit from broader overseas holdings while allowing Lukoil to refocus on selected regional assets.
By Aysel Mammadzada
Similar news
