US petroleum company Chevron and the private equity firm Quantum Capital Group plan to buy the international assets of Lukoil, the sanctioned Russian oil company, according to the Financial Times.
If the deal goes through, the two companies aim to share the assets, which are said to be valued at around 22 billion US dollars, the UK-based business paper said, citing unspecified sources.
It reported that Quantum was leading the bidding process for Lukoil's gas and oil production, refineries and more than 2,000 petrol stations across Europe, Asia and the Middle East.
That deal would also include Lukoil's petrol station chain Teboil, which until fairly recently continued to operate across Finland. However, Teboil announced that it was shutting down its operations in Finland in November, following the difficulties caused by US sanctions against Russian oil companies, including Lukoil and Rosneft, in October.
According to FT, the US Treasury Department has given the companies until January 17 to negotiate the deal, which also requires the approval of US President Donald Trump.
The business paper noted that American equity firm Carlyle Group and Dubai-based investment outfit International Holding Company were also bidding on Lukoil.
