The Russian oil giant Lukoil, which is under U.S. sanctions due to the war in Ukraine, announced on Thursday that it will sell its foreign assets to the American company Carlyle Group.
The company, Russia’s second-largest oil producer, stated that it “signed an agreement with the American investment company Carlyle to sell Lukoil International Limited,” adding that the deal does not include assets in Kazakhstan.
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Alongside Carlyle Group, major international groups competed to acquire the assets of the Russian company Lukoil, including the Abu Dhabi International Holding Group, the American company Chevron, and the Quantum Energy Group.
Competition for acquiring Lukoil’s assets
In early January, it was revealed that an alliance had been formed between the American oil company Chevron and the Quantum Energy Group, offering to acquire the international assets of the Russian company Lukoil.
Sources indicated that if the deal is completed, Chevron and Quantum plan to split the assets between them, valued at approximately $22 billion. The offer, led by Quantum, is for the entire portfolio of Lukoil’s international assets, including oil and gas production, refining facilities, and more than two thousand gas stations across Europe, Asia, and the Middle East.
The sources also stated that “Quantum and Chevron will own and manage the assets long-term, a promise likely to gain approval from the administration of U.S. President Donald Trump.” Quantum is acquiring the assets in cooperation with Artemis Energy, a London-based subsidiary.
Lukoil
Lukoil is a major Russian multinational energy corporation, primarily focused on the exploration, production, and sale of petroleum, natural gas, and petroleum products. It was founded in 1991 following the dissolution of the Soviet Union, emerging from the state-owned oil industry to become one of the world’s largest publicly traded oil companies.
Ukraine
Ukraine is a country in Eastern Europe with a rich history dating back to the medieval state of Kyivan Rus. It has experienced periods of independence as well as rule by various empires, before re-establishing its sovereignty with the dissolution of the Soviet Union in 1991. The nation is known for its distinct cultural traditions, Orthodox Christian heritage, and significant agricultural and industrial regions.
Carlyle Group
The Carlyle Group is a global investment firm founded in 1987 in Washington, D.C., known for its private equity, credit, and investment solutions. It has a significant history of investing in industries like aerospace, defense, and healthcare, often working with government entities and large institutional investors.
Kazakhstan
Kazakhstan is a Central Asian nation with a rich nomadic history, historically inhabited by Turkic tribes and later part of the Mongol Empire and the Russian Empire before becoming a Soviet republic. It gained independence in 1991 following the dissolution of the USSR, and its cultural heritage is exemplified by sites like the ancient Silk Road city of Turkistan and the modern capital, Nur-Sultan (Astana).
Abu Dhabi International Holding Group
The Abu Dhabi International Holding Group is a major investment conglomerate owned by the Abu Dhabi government, established to diversify the emirate’s economy beyond oil. It has a significant history of strategic acquisitions and investments across sectors like healthcare, technology, and real estate, both locally and globally.
Chevron
Chevron is a major American multinational energy corporation, founded in 1879 as the Pacific Coast Oil Company. It grew through mergers, including its 1984 union with Gulf Oil, to become one of the world’s largest integrated oil and gas companies.
Quantum Energy Group
The Quantum Energy Group is not a recognized historical place or cultural site, but rather a contemporary corporate entity, typically involved in energy-related technology or investment. Its history is generally tied to modern business development in sectors like renewable energy or quantum technology applications.
Europe
Europe is a continent with a rich and complex history, shaped by ancient civilizations like Greece and Rome, the Middle Ages, the Renaissance, and transformative events such as the Industrial Revolution and two World Wars. It is home to a vast array of cultural sites, from prehistoric cave paintings to medieval castles and modern architectural marvels, reflecting its diverse peoples and historical developments.
Asia
Asia is the world’s largest and most populous continent, home to ancient civilizations like those of Mesopotamia, the Indus Valley, and China. Its history spans millennia, featuring the rise and fall of vast empires, the spread of major world religions, and profound developments in science, art, and governance. Today, it is a region of immense cultural, economic, and political diversity.
Middle East
The Middle East is a transcontinental region centered on Western Asia and parts of North Africa, historically known as the cradle of civilization where some of the world’s earliest human societies and major religions emerged. It has been a central crossroads for trade, culture, and empires for millennia, from ancient Mesopotamia and Persia to the Ottoman Empire and modern nation-states. The region’s contemporary history is profoundly shaped by its vast petroleum reserves, the Arab-Israeli conflict, and geopolitical complexities.
Donald Trump
Donald Trump is a businessman and media personality who served as the 45th President of the United States from 2017 to 2021. His presidency was marked by significant political polarization and a focus on issues such as immigration reform, tax cuts, and renegotiating trade agreements.
Artemis Energy
Artemis Energy is not a known historical place or cultural site, but rather a contemporary company name, often associated with businesses in the renewable energy or technology sectors. Without a specific, widely recognized location or established cultural history, it does not have a historical summary like a traditional landmark.
London
London is the capital of the United Kingdom, a historic city founded by the Romans as Londinium nearly two millennia ago. It has since grown into a major global financial and cultural centre, with its history visibly layered through landmarks like the Tower of London, Westminster Abbey, and the modern London Eye.
