Overview
- Lukoil said the agreement is non‑exclusive and contingent on regulatory clearances, including approval from the U.S. Treasury’s Office of Foreign Assets Control.
- Carlyle stated the proposed transaction is structured to fully comply with OFAC policy.
- The package covers Lukoil International GmbH and excludes assets located in Kazakhstan, which will remain with Lukoil.
- The company launched the divestment after U.S., UK and EU sanctions in October 2025, and a previously negotiated sale to Gunvor fell through when a U.S. license was not expected.
- The portfolio includes European refineries in Romania and Bulgaria, Finland’s Teboil retail network, a 75% operator stake in Iraq’s West Qurna‑2 project, and several African interests.