Russia’s second-largest oil producer Lukoil PJSC introduced plans to promote worldwide property amid US and UK sanctions.
Lukoil is contemplating bids from would-be consumers, the corporate mentioned on its web site Monday. The divestment course of is being performed below a wind-down license from the US Treasury’s Workplace of International Belongings Management, in response to Lukoil. The corporate is ready to hunt an extension of the license “to make sure uninterrupted operations of its worldwide property.”
The choice follows the “introduction of restrictive measures towards the corporate and its subsidiaries by some states,” Lukoil mentioned.
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Final week, US President Donald Trump’s administration slapped sanctions on Russia’s two largest oil producers – Lukoil and state-controlled Rosneft PJSC – to stress the Vladimir Putin regime to finish the struggle in Ukraine. Earlier this month, the UK blacklisted the 2 firms.
Lukoil is probably the most internationally various of Russia’s oil giants, with upstream companies in former Soviet nations comparable to Kazakstan, Uzbekistan and Azerbaijan. The corporate additionally has operations in Iraq, Cameroon, Nigeria and Ghana and elsewhere.
The Russian producer additionally has a community of 5,300 retail gasoline stations in 19 nations world wide in addition to refineries in Europe.
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