Carlyle exploring options to buy Lukoil foreign assets, sources say

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U.S. firm Carlyle weighs buying Lukoil’s international oil assets ahead of new sanctions, as reported by Reuters. Deal faces licensing and geopolitical challenges.

LONDON, Nov 13 (Reuters) - U.S. private equity firm Carlyle is exploring options to buy Russian oil major Lukoil's (LKOH.MM), opens new tab foreign assets, three sources familiar with the situation said.

The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has blocked Lukoil's attempt to sell assets to Swiss-based trader Gunvor ahead of the November 21 sanctions deadline.

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Lukoil extracts about 2% of global oil output at home and abroad, and has said it is seeking buyers for its international assets, which produce 0.5% of global oil and are estimated to be worth about $22 billion, based on 2024 filings.

Carlyle is in the early stages of exploring a purchase of the assets, one of the sources said.

Reuters was the first to report Carlyle's interest. It is looking to apply for a U.S. licence allowing it to buy the assets before beginning due diligence, the source said, adding that it could still decide to walk away...

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Carlyle exploring options to buy Lukoil foreign assets, sources say

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