Category: sanctions

Exxon Mobil Eyes Lukoil’s Stake in Iraq’s West Qurna 2 Giant

Iraqi oil ministry officials said that ExxonMobil has reached out to express interest in acquiring Lukoil’s majority share in the massive West Qurna 2 oilfield, Reuters reported. ExxonMobil has approached Iraqi oil ministry officials to express interest in acquiring Lukoil’s majority share in the West Qurna 2 oilfield, Reuters reported. The field holds approximately 13 billion […]

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Russia Signals Plans to Boost Oil and LNG Supplies to China Despite Expanding U.S. Sanctions

Russia is exploring opportunities to increase oil exports to China and deepen cooperation on Liquefied Natural Gas (LNG), according to Deputy Prime Minister Alexander Novak’s announcement on Tuesday during a Sino-Russian business forum in Beijing. Since the start of the Ukraine conflict in 2022, China and India have become Russia’s largest oil buyers. China currently […]

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Russia Signals Plans to Boost Oil and LNG Supplies to China Despite Expanding U.S. Sanctions

Russia is exploring opportunities to increase oil exports to China and deepen cooperation on Liquefied Natural Gas (LNG), according to Deputy Prime Minister Alexander Novak’s announcement on Tuesday during a Sino-Russian business forum in Beijing. Since the start of the Ukraine conflict in 2022, China and India have become Russia’s largest oil buyers. China currently […]

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Chevron Joins Race for Lukoil’s International Assets, Sources Say

US oil giant Chevron is reviewing potential opportunities to acquire international assets owned by sanctioned Russian producer Lukoil, five sources told Reuters on November 17. This move follows a US Treasury waiver issued last week that allows potential buyers to engage with Lukoil regarding its overseas holdings. If Chevron proceeds, it will join Carlyle and […]

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U.S. Eases Restrictions to Facilitate Potential Sale of Lukoil’s Foreign Assets

The US Treasury Department has granted limited authorizations to facilitate the potential sale of Lukoil’s foreign assets while explicitly permitting continued transactions with the company’s Burgas refinery in Bulgaria. The new licenses, issued by the US Treasury Department, allow potential buyers to engage in talks with the Russian oil major until December 13 about acquiring […]

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Lukoil Faces Pressure as US Deadline Nears, Gunvor Deal Collapses

The international operations of the Russian energy group Lukoil are facing mounting pressure after a planned sale of assets to Swiss trader Gunvor collapsed, just ahead of a US deadline for companies to halt business with the Russian oil firm. The US Treasury, responsible for approving any sale due to Lukoil being under US sanctions, […]

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Lukoil Faces Pressure as US Deadline Nears, Gunvor Deal Collapses

The international operations of the Russian energy group Lukoil are facing mounting pressure after a planned sale of assets to Swiss trader Gunvor collapsed, just ahead of a US deadline for companies to halt business with the Russian oil firm. The US Treasury, responsible for approving any sale due to Lukoil being under US sanctions, […]

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Lukoil to Sell International Assets after New Sanctions Imposed

Russian oil giant Lukoil plans to sell its international assets following the imposition of new restrictive measures against the company and its subsidiaries. The move signals a major shift for one of Russia’s largest private oil producers, as Western sanctions continue to pressure the country’s energy sector. Lukoil has begun reviewing bids from potential buyers […]

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U.S, EU Tighten Pressure on Russia with Oil, LNG Sanctions

U.S. President Donald Trump announced on Wednesday Ukraine-related sanctions for the first time in his second term, blacklisting Russian oil major companies Lukoil and Rosneft amid growing frustration with President Vladimir Putin over the war, Reuters reported. The measures follow the European Union’s (EU) approval of its 19th sanctions package against Moscow, which includes a […]

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