According to a Reuters report, rather than seeking Lukoil’s entire global asset base, Chevron is considering only the operations that overlap with its existing business.
Chevron (CVX) is reportedly evaluating potential opportunities to acquire select overseas assets from Lukoil.
According to a Reuters report, rather than seeking Lukoil’s entire global asset base, Chevron is considering only the operations that overlap with its existing business. Notably, Lukoil, along with another Russian energy giant, Rosneft, is currently under U.S. sanctions.
Last week, the U.S. Treasury authorized interested buyers to begin discussions with Lukoil regarding its foreign holdings, opening the door for Chevron to join firms like Carlyle in pursuing parts of a portfolio valued at more than $20 billion.
CVX stock was down 0.9% on Monday.
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