Listen to the audio version of this article (generated by AI).
Listen to the audio version of this article (generated by AI).
Washington sanctioned Lukoil, Russia’s largest privately-owned oil producer, in October as part of efforts to pressure Moscow over the war in Ukraine, prompting the company to seek buyers for its foreign holdings.
Discussions are underway with oil majors ExxonMobil and Chevron, as well as investors from the Middle East, ahead of a U.S.-imposed Dec. 13 deadline. The United States has already rejected Swiss trader Gunvor as a buyer, sources said.
Lukoil’s Vienna-based international arm owns European refineries, shares in oilfields in Kazakhstan, Uzbekistan, Iraq and Mexico, and hundreds of fuel stations globally.
One source said MOL is targeting European refineries and fuel stations, as well as stakes in upstream assets in Kazakhstan and Azerbaijan.
The sources declined to be named due to the sensitivity of the negotiations.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
