Chevron and private equity group Quantum Energy Partners will bid for the international assets of the sanctioned Russian oil company Lukoil. The report quoted people familiar with the matter as saying that Chevron and Quantum will split this part of the assets, which include oil and gas production, refining facilities, and gas stations. The report said Lukoil valued these assets at $22 billion. The US government announced sanctions against Russian state-owned oil giants Rosneft and Lukoil in October last year. Commodity trader Gunvor Group initially planned to buy Lukoil's international assets, but after being harshly criticized by the US, the company withdrew the plan; the US said it would block the deal and accused the company of being influenced by the Kremlin. According to reports, Quantum has partnered with London-based portfolio company Artemis Energy to acquire these assets. In addition to Chevron and Quantum, Lukoil's assets outside of Russia are attracting numerous bidders. According to reports, ExxonMobil, Abu Dhabi International Holding, Saudi Arabia's Midad Energy, and Carlyle Group are also participating in the bid, and Carlyle Group has hired Goldman Sachs to assist in the bid.

Chevron and private equity group Quantum Energy Partners will bid for the international assets of the sanctioned Russian oil company Lukoil. The report quoted people familiar with the matter as saying that Chevron and Quantum will split this part of the assets, which include oil and gas production, refining facilities, and gas stations. The report said Lukoil valued these assets at $22 billion. The US government announced sanctions against Russian state-owned oil giants Rosneft and Lukoil in October last year. Commodity trader Gunvor Group initially planned to buy Lukoil's international assets, but after being harshly criticized by the US, the company withdrew the plan; the US said it would block the deal and accused the company of being influenced by the Kremlin. According to reports, Quantum has partnered with London-based portfolio company Artemis Energy to acquire these assets. In addition to Chevron and Quantum, Lukoil's assets outside of Russia are attracting numerous bidders. According to reports, ExxonMobil, Abu Dhabi International Holding, Saudi Arabia's Midad Energy, and Carlyle Group are also participating in the bid, and Carlyle Group has hired Goldman Sachs to assist in the bid.