Russian energy company Lukoil, whose potential sale of its Bulgarian refinery and fuel stations to Cengiz Holding was recently reported by Patronlar Dünyası, announced that it is holding negotiations with several potential buyers regarding the sale of its international assets. The company had decided to divest these assets after being added to the U.S. sanctions list.
In a written statement, Lukoil shared details about the process launched following the U.S. decision. The company emphasized that ensuring uninterrupted operation of its facilities during the sale process remains a key priority.
“This will help avoid risks that could disrupt ongoing operations, ensure the continued supply of energy resources to countries, and preserve jobs,” the statement said.
Lukoil confirmed that discussions regarding the sale are ongoing, noting:
“Lukoil is negotiating with several potential buyers concerning the sale of its international assets. The transaction will be announced once final agreements are reached and all necessary legal approvals are obtained.”
Decision to Sell After U.S. Sanctions
On October 23, U.S. President Donald Trump added Lukoil — Russia’s second-largest oil producer — and its subsidiaries to the sanctions list, citing a “serious lack of commitment” in efforts to end the war in Ukraine.
Lukoil, which accounts for roughly 2% of global oil production, announced on October 27 that it would sell its international assets in response to the sanctions. On October 30, the company stated that it had reached an agreement with Gunvor for the sale.
However, the U.S. Treasury Department later declared that it would not grant a license to Gunvor for the transaction, prompting Gunvor to withdraw its offer.
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Source: Patronlar Dünyası/ Prepared by: İlayda Gök