Russia’s Lukoil to Sell Assets to Gunvor Amid Sanctions
Lukoil is the most internationally diverse of Russia’s oil giants.
Photographer: Oliver Bunic/BloombergRussian oil producer Lukoil PJSC has agreed to sell its international assets to energy trader Gunvor Group, a week after being hit by US sanctions.
The country’s No. 2 oil producer said it had accepted an offer from Gunvor and made a commitment not to negotiate with other potential buyers. If successful, the deal would involve the transfer of a sprawling global network of oil fields, refineries and gas stations to one of the world’s top independent commodity traders.