Lukoil, Russia’s second-largest oil producer, announced on Thursday that it has agreed to sell its overseas operations, managed through Lukoil International, to US investment firm Carlyle Group. The deal comes as the company adjusts its strategy in response to sanctions imposed by the United States.
The company confirmed that it will retain ownership of its assets in Kazakhstan. Lukoil and Russia’s largest oil producer, Rosneft, have been targeted by US sanctions since October, which Washington described as a reaction to the slow progress in peace talks between Russia and Ukraine, Al-Rai daily reports.
As a result of these sanctions, Lukoil has been forced to withdraw from certain operations outside Russia, marking a significant shift in its international business strategy.
Meanwhile, global oil markets reacted positively, with the price of Kuwaiti crude rising $1.77 to reach $63.24 per barrel. This marks the third consecutive day of gains, amid heightened geopolitical tensions, including US President Donald Trump’s renewed threats against Iran.
