Tag Archives: Lukoil

Exxon is now circling the same distressed prize Chevron has been eyeing: chunks of Lukoil’s global portfolio, suddenly up for grabs after Washington loosened the legal chokehold on the sanctioned Russian major. Multiple sources say Exxon is actively weighing options to acquire Lukoil assets in Kazakhstan, where both companies already …

Russian oil giant Lukoil has declared force majeure at the 400,000-barrels-per-day West Qurna-2 oilfield in Iraq after the U.S. sanctions on Russia’s top oil firms, sources familiar with the matter told Reuters on Monday. Following the October 22 U.S. sanctions on Lukoil and Rosneft, Iraq has stopped all cash and …

Recently, a delegation from the Russian oil corporation Lukoil visited Baghdad to meet with Iraqi Prime Minister Mohammed Shia Al-Sudani to discuss matters about the company’s activities in the country. Lukoil gave a thorough update on their current activities in Iraq’s West Qurna 2 and Eridu oil fields, emphasizing the …

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies. Eastern European Union members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming …

Lukoil signed a supplementary agreement with state-owned Basra Oil Co. to extend the oil service contract for West Qurna 2 field in Iraq by 10 years to 2045 and to double oil production to 800,000 b/d, Lukoil said in a release. The field development plan envisages bringing new multi-well pads …

Russian oil company Lukoil has said it now has rights to two offshore energy blocks in the Republic of Congo in partnership with Italian oil giant Eni. The rights to the offshore blocks, known as Marine 24 and Marine 31, are now held by Lukoil with a 43% interest, Interfax …

Russia’s Lukoil has sold its Italian refinery to a group of firms backed by a major trading house in its first significant asset sale since Moscow’s invasion of Ukraine, the companies said on Monday (9 January). Since its inception following the collapse of the Soviet Union, Lukoil had been one …

Lukoil ranked second with a brand strength score of 87.4 out of 100, while Gazprom was fifth with 85.9. Malaysia’s Petronas ranked first with 87.7, and the other companies in the top five were Brazil’s Petrobras and Thailand’s PTT. The relative strength of brands is determined through a balanced scorecard …

Russia’s oil industry—a vital source of budget revenues—is already showing signs of slowdown as Western buyers shun Russian oil while Moscow struggles to replace lost sales in the West with sales in emerging Asian markets. The war Putin started in Ukraine is hitting home: storage capacity is full, infrastructure and …

Several major oil companies and investors have announced in recent days they are withdrawing from Russian resource development or not pursuing new projects with Russia, including in the Arctic, after Russia’s invasion of Ukraine. BP was the first to announce such plans. On Sunday, the company said that it was …