Carlyle is exploring options to purchase Lukoil's foreign assets, according to sources

Three sources familiar with this situation have confirmed that the U.S. private-equity giant Carlyle is looking at options to purchase foreign assets of Russian oil major Lukoil.

As part of its efforts to get the Kremlin into peace talks on Ukraine, the U.S. has imposed sanctions on Lukoil and blocked Lukoil from selling assets to Swiss-based Gunvor before the deadline of November 21, 2015.

Lukoil produces about 2% of the global oil production at home and abroad. It has stated that it is looking for buyers for its global assets. These produce more than 0.5% of the global oil, and are valued around $22 billion based on filings from 2024.

One source said that Carlyle was in the initial stages of examining a possible purchase of these assets.

The source added that the company could decide to walk away. It was looking to apply for a U.S. license allowing them to purchase the assets, and then begin due diligence.

A second source confirmed that Carlyle had made Lukoil fully aware of their intentions.

Carlyle declined comment. Lukoil didn't respond to our request for comment.

Lukoil, Russia's largest oil company abroad, has helped Moscow project its soft economic power for decades.

Lukoil owns three refineries in Europe and stakes in oilfields located in Kazakhstan, Uzbekistan and Iraq, Ghana, Egypt, Nigeria and Mexico. It also has hundreds of retail fuel station locations around the globe, including the United States.

Lukoil operations in Finland, Bulgaria and Iraq have already been affected by the sanctions.

Carlyle is one of the largest private equity firms in the world. It manages $474 billion worth of assets. (Reporting by Dmitry Zhdannikov Editing by Mark Potter)

(source: Reuters)