Carlyle exploring options to buy Lukoil foreign assets, sources say

Full Post
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.

The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.

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...

Read Now
Carlyle exploring options to buy Lukoil foreign assets, sources say

Timeframe

Add to calendar

Location

No items found.

Connect

No items found.

Sponsored

PEP Library

Explore Our Latest Insights

Visit page
Visit Library post
Visit page
Visit Library post
Visit page
Visit Library post
US maritime patrols are shifting control of the Strait of Hormuz, as vessels increasingly use the Omani route despite continued threats from Iran.
Visit page
Visit Library post
Iran’s proposed Strait of Hormuz fee system could generate billions annually, reshape Gulf security, and permanently alter global energy markets.
Visit page
Visit Library post
We are enthusiastic dip buyers, while refusing to be rally sellers.
Visit page
Visit Library post
Visit page
Visit Library post
Oil and gas companies are expected to report enormous profit growth as the war in Iran drives energy prices higher, but their stocks continue to underperform because investors question whether those gains will last. Political sensitivity and uncertainty around oil prices may also make companies reluctant to immediately increase dividends or stock buybacks.
Visit page
Visit Library post
President Trump initially celebrated rising oil prices because they boosted U.S. energy profits. However, after the Iran war pushed crude prices from roughly $66 to an average of $95 per barrel between March and June, oil companies and their allies are now poised to receive major financial gains. The situation has become politically inconvenient for Trump, who is no longer pleased with the consequences of the price surge.
Visit page
Visit Library post
Iran’s renewed threat to the Strait of Hormuz leaves Trump facing a stark choice as oil reserves shrink, fuel prices rise, and the conflict escalates.
Visit page
Visit Library post
Oil prices climb as cracks in the U.S.-Iran cease-fire, renewed Hormuz tensions, and potential strikes revive volatility in global energy markets.
Visit page
Visit Library post
Voting machine vs. weighing machine. The voting machine is winning.
Visit page
Visit Library post
Visit page
Visit Library post
Visit page
Visit Library post
The global oil market has avoided the catastrophic supply crunch many feared when the Iran war broke out, but it’s far from balanced.
Visit page
Visit Library post
Fitch Ratings upgraded its oil and gas sector outlook to “improving” from “neutral,” and Moody’s maintained its positive outlook.
Ready to get started?
Contact our specialized teams at PEP for more information.