Lukoil's overseas refineries have halted operations due to a delay in a deal in the U.S. – Financial Times
Some of Russian oil company Lukoil’s overseas refineries have reduced production or halted operations entirely due to delays in the deal to sell its international assets. The Financial Times reports this, citing informed sources.
The deal for the U.S. Carlyle Group to acquire Lukoil’s assets in 17 countries, valued at $20 billion, has stalled in the administration of President Donald Trump.
Despite preliminary approval from U.S. regulatory agencies, the deal has been under prolonged review by the National Security Council, the State Department, and the Department of Energy. Due to this prolonged uncertainty, the Petrotel refinery in Romania, in particular, remains shut down. According to experts, finalizing the deal would allow for the restoration of production capacity of 100,000–150,000 barrels per day.
Source: Financial Times.
The U.S. has extended the period during which negotiations may be conducted and agreements reached regarding the sale of assets belonging to Russia’s Lukoil. At the same time, companies will need to obtain additional authorization from U.S. authorities for such transactions.
Moldovan authorities have authorized the use of LUKOIL’s fuel reserves to resume operations at gas stations that had previously been closed.
