Lukoil signs non-exclusive deal with Carlyle for sale of international assets

The sale agreement follows restriction from the US Treasury on a 2025 agreement with Gunvor, with Lukoil exploring multiple options to sell its international operations.

Jan. 30, 2026

PJSC Lukoil has signed a non-exclusive deal with US investment company Carlyle on the sale of Lukoil International GmbH, the company said in a release Jan. 29.

Lukoil International GmbH is a 100%-owned subsidiary of PJSC Lukoil which owns international assets of Lukoil Group.

Lukoil Group will retain and continue to operate assets in Kazakhstan.

The agreement with Carlyle is not exclusive for and is subject to some conditions precedent such as procurement of necessary regulatory approvals including permission of the US Department of the Treasury's Office of Foreign Assets Control (OFAC).

Lukoil is continuing negotiations with other potential purchasers, the company said.

The agreement comes more than 2 months after the US Treasury said it would not grant a license to Gunvor Group Ltd. to operate Lukoil's international assets after Gunvor made an offer to purchase Lukoil International GmbH, which PJSC Lukoil, had accepted.