Oil Co Lukoil

The US Treasury has extended the deadline for certain transactions with Lukoil International GmbH until Aug. 22 at 12:01 a.m. The move is related to US sanctions imposed on Lukoil in October and follows several previous extensions; Lukoil subsequently announced plans to sell assets. » Mere på de.investing.com

The US Treasury has extended the deadline for energy companies to complete transactions to acquire Lukoil’s overseas assets from May 1 to May 30. Sanctions force Lukoil to sell an international portfolio worth about $22 billion and require proceeds to be placed into a frozen, US-controlled account. All deals require final approval by the Office of Foreign Assets Control, and multiple bidders, including Exxon, have shown interest. » Mere på de.investing.com

Saudi-backed Midad Energy has signed a letter of intent to acquire the foreign assets of the sanctioned Russian energy company Lukoil, prevailing over competitors such as Carlyle. The bid, finalized at the end of January, is an all-cash offer that will be deposited in an escrow account and covers all of Lukoil’s target assets. Completion depends on regulatory approvals, including consent from the US Treasury, because Western sanctions affect foreign holdings. Significant regulatory and geopolitical hurdles remain to be overcome before closing, which could delay or prevent the transaction. » Mere på de.investing.com

Lukoil has reached an agreement with U.S. investment group Carlyle to sell all of its international operations, including nearly 200 franchised gas stations in the U.S. Northeast. The proposed deal aims to sever ownership links with Russia and keep the retail portfolio operating under new, non-Russian ownership, though final approval from the U.S. Treasury is still pending. It remains unclear whether the American Lukoil stations will be rebranded or sold to other operators after the transaction closes. » Mere på finance.yahoo.com

The sanctioned Russian oil company Lukoil has, according to a statement, signed a contract to sell its foreign business to US investment firm Carlyle, but the deal is subject to approval by the US Treasury. Carlyle has not commented so far, and Lukoil is also negotiating with other potential buyers. A previous sale to Gunvor failed after a veto by the US Treasury. The foreign business includes hundreds of service stations in around 20 countries and several refineries; operations in Kazakhstan are to be excluded from the sale. » Mere på t-online.de