Lukoil signed an asset sale agreement with Gunvor.

Important Agreement Between Lukoil and Gunvor

Russia's second largest oil producer Lukoil announced on its official website that it has reached an asset sale agreement with Gunvor. Lukoil has accepted the offer made by Gunvor for Lukoil International GmbH, and after this agreement, it has committed not to negotiate with other potential buyers.

Sanctions and Sale Plans

Facing difficulties due to sanctions imposed by the United States and the European Union, Lukoil recently shared its sale plans regarding its international operations with the public. It has been reported that this agreement is subject to approval by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) and other applicable authorizations.

Lukoil's Global Operations

Lukoil International manages over 100 subsidiaries in more than 50 countries. These countries include important markets such as Kazakhstan, Uzbekistan, and Azerbaijan, as well as minority stakes in projects in Egypt, the United Arab Emirates, and various African countries.

Global Crude Oil Production

According to the company’s annual report, Lukoil's share of global crude oil production was at 5% last year. This data once again highlights Lukoil's significant role in the world energy market.