Carlyle's energy investment list as it targets Lukoil assets valued at $22 billion

Analysts initially estimated that the Carlyle Group would acquire most of Lukoil’s foreign assets at $22 billion.

The Office of Foreign Assets Control (the U.S. agency responsible for sanctions) has yet to approve the sale. The?U.S. The?U.S. Treasury had given Lukoil a deadline of February 28th to divest their global portfolio.

Carlyle has recently expanded its energy holdings to include stakes in U.S. proven developed producing (PDP), oil and gas assets as well as midstream infrastructure and renewable energy platforms.

Here is a list of Carlyle’s energy assets, including its clean energy and fossil fuels footprint.

Carlyle agreed to purchase the majority of Lukoil’s international assets, including oilfields and refineries, as well as fuel stations.

The transaction is subject to OFAC approval and other regulatory approvals.

BASF Coatings Business (2025): Carlyle and Qatar Investment Authority have struck a deal for a majority share in BASF Coatings. The unit is valued at 9.21 billion euros (7.7 billion euro).

U.S. PDP Oil and Gas Partnership (2025) – Carlyle has, through its Asset-Backed Finance Unit, committed a maximum of $2 billion to Diversified Energy for the purpose of investing in proven, developed, producing U.S. energy assets. The focus is on cash-generating, long-life fields.

Carlyle ABF invested nearly $8 billion in the last eight years.

Revera Energy (by 2025) – Carlyle has launched Revera Energy as an independent platform for energy infrastructure solutions.

Revera has a portfolio in Australia that includes a battery storage system of 250?MW/700 MWh under construction. Its pipeline includes more than 750?MW in additional battery storage. Other projects include 2.3?GW solar, 1.4'GW wind and a 1'GW green hydrogen project.

Revera has advanced 1.2?GW?of battery storage projects in the UK.

Amp Energy Transition Investment (2021) - Carlyle committed $374 million towards Amp Energy’s global platform of renewable energy. Amp Energy has already developed renewable generation and has additional projects, including battery storage that are in the late stages of development or construction.

SierraCol (2020). Carlyle'set up SierraCol' in 2020, after purchasing assets from Occidental Petroleum. Its production of 45,000 barrels oil equivalent per day makes it the largest independent Colombian producer. Carlyle was looking for a buyer of SierraCol in 2025 for $1.5 billion.

NGP Energy Capital Management stake: Carlyle has a substantial ownership interest in NGP Energy Capital Management, a North American investment firm that manages $25 billion worth of upstream and middlestream energy assets. Carlyle acquired 47.5% of NGP's revenue in 2012. (Reporting by Arunima Kumar in Bengaluru; Editing by Arun Koyyur)

(source: Reuters)