Chevron and Quantum Energy reported to bid for Lukoil's international assets

Reports say Chevron and private equity group Quantum Energy Partners are teaming up to bid for Lukoil's international assets, which the Financial Times values at about US$22 billion; Chevron issued a brief statement and other parties did not immediately comment.

Reports say U.S. oil major Chevron and private equity group Quantum Energy Partners are teaming up to bid for the international assets of Russia's Lukoil. The assets are reported to be valued at about US$22 billion. This possible sale has drawn attention partly because it comes after sanctions were imposed on Russian oil companies following Russia's invasion of Ukraine. Chevron issued a short statement saying it assesses potential opportunities and complies with applicable laws and its code of business ethics. Known details: - The Financial Times reported that Chevron and Quantum Energy Partners are coordinating a bid for Lukoil's international assets, estimated at roughly US$22 billion. - A Chevron spokesperson said the company continues to assess potential opportunities and operates under a code of business ethics and applicable laws. - Reuters earlier reported that Chevron was studying options to acquire Lukoil's global assets and that Saudi Arabia's Midad Energy was a leading contender in separate coverage. - The article reports that Quantum, Lukoil and the White House did not immediately respond to requests for comment. - The Financial Times said that, if a deal is reached, Chevron and Quantum plan to split Lukoil's assets between them. Summary: The report describes a potential US$22 billion transaction involving Lukoil's overseas assets that would be among the larger energy-related deals since sanctions on Russian oil companies. If a deal proceeds, the parties are reported to plan a division of assets between Chevron and Quantum. Undetermined at this time.