The American oil company "Chevron" is considering the possibility of buying foreign assets of the sanctioned Russian company "Lukoil". The information comes from Reuters, which refers to five informed sources. According to them, the American energy giant is exploring options for buying assets of "Lukoil" in regions where the two companies have common interests. Apparently, this is about the Karachaganak and Tengiz fields in Kazakhstan, where both "Lukoil" and "Chevron" produce oil. In addition, "Lukoil" has a stake in the Nigerian offshore project OML-140, whose operator is „Chevron".
Reuters has sent an inquiry to the American company, which, however, has not yet commented on the topic. The response only says that the company complies with the laws and regulations applicable to its business.
Earlier, the agency named the American investment fund „Carlyle" as one of the possible buyers of „Lukoil“ assets, specifying that it is in the „early phase“ of exploring the deal.
According to data from „Bloomberg", „Lukoil“ is the most widely represented of all companies of the Russian Federation on the international market. The Russian oil giant owns shares in oil refineries in Europe, as well as significant stakes in oil fields from Iraq to Kazakhstan. Its brand is also represented at gas stations from the United States to Romania and Bulgaria.
US sanctions against „Lukoil“ and „Rosneft"
About a month ago, it became clear that the United States and Great Britain were imposing sanctions on the Russian oil companies „Lukoil“ and „Rosneft“, as well as their 34 subsidiaries because of Russia's aggression against Ukraine. After that, „Lukoil“ decided to sell its foreign assets, and the first candidate for them was the Swiss company „Gunvor". One of its founders is the friend of Russian President Vladimir Putin, Gennady Timchenko. Washington blocked the deal precisely because of the candidate's ties to Moscow and refused to issue the company a license to operate until the war in Ukraine ended.
Russian oil has fallen sharply in price
Due to US sanctions, demand for Russian oil has fallen significantly, which is already affecting the price. For example, in Novorossiysk, Ural oil has fallen to $36.61 per barrel. The crude oil has not been so cheap since March 2023.
According to data from the independent pricing agency Argus Media, a similar trend is also observed in the ports of the Baltic Sea, reported “Bloomberg”. Subsequently, prices have risen slightly.
Author: Evgeny Zhukov