🔗 Share this article

Overseas oil refineries and other assets of Russian company Lukoil are appealing to prospective purchasers as the window closes to secure bargain purchases before US sanctions come into force on 21 November.

International Asset Sales

Kazakhstan's national company KazMunayGas is evaluating an offer for Lukoil's Kazakh operations, according to insiders with knowledge.

Shell has shown willingness in Lukoil's offshore holdings in West African nations, multiple sources reported.

Government Takeovers

The government of Moldova has begun negotiations to acquire Lukoil's operations at the capital's airport.

The Bulgarian government is working towards taking over and auctioning Lukoil's Black Sea facility, although the country's president have sought amendments to the draft bill.

Within Egypt, Lukoil has indicated to the authorities its possible plans to divest completely, according to insiders.

Corporate Challenge

The company confronts either selling its assets and having the revenue subject to seizure, or their takeover by host nations if it refuses to liquidate.

Industry experts indicate Lukoil may try to copy Russian oil firm Rosneft, whose facilities in Germany were put under a trusteeship in 2022.

War Situation

Moscow's forces overran three settlements in the southern Ukrainian territory of southern Ukraine.

Weather conditions enabled Russian troops to infiltrate military posts, with Kyiv's troops engaged in gruelling battles to defend their positions.

Population Impact

At Huliaipole, where the situation had worsened significantly, senior citizens described life-threatening conditions.

• Aerial dangers rendered normal life impossible
• Lack of pharmaceuticals impacted those in need
• Limited access to water compounded the crisis

Official Statements

City leader the former boxer has called for Ukraine to expand armed forces by reducing the minimum age of conscription.

Foreign officials have commented on the energy corruption scandal in Ukraine, describing it as extremely unfortunate and stressing the importance for serious attention.

Government Reshuffle

Head of state the administration has taken steps to manage growing public outrage by dismissing cabinet members allegedly connected in a major graft operation.

The president also demanded personal sanctions against the suspected mastermind of the network, who reportedly fled abroad before law enforcement could conduct a property inspection.