11:36 - 18.11.2025

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November 18, Fineko/abc.az. Chevron (U.S.) is exploring options for acquiring foreign assets of sanctioned Lukoil (Russia),

ABC.AZ informs, referring to five informed sources of Reuters.

The U.S. Treasury Department last week allowed potential buyers to negotiate with Lukoil on foreign assets. In this case, Chevron will join Carlyle and other companies in the fight for Lukoil's portfolio worth at least $20 billion.

According to sources, Chevron is considering the purchase of those Lukoil assets where there is an operational intersection of the companies' interests, rather than the entire portfolio. The sources asked not to disclose their names, as they are not allowed to communicate with the media. Chevron's interest has not been previously reported.

Chevron said the company complies with applicable laws and regulatory requirements and does not comment on commercial matters.

Lukoil produces around 2% of the world's oil domestically and abroad and announced that it is looking for buyers for its international assets, which account for 0.5% of global production and are estimated at approx. $22 billion according to reporting data for 2024.