Carlyle explores potential acquisition of Lukoil’s $22bn foreign assets

Carlyle is evaluating a possible acquisition of Lukoil’s international assets, becoming the first US private equity firm to explore such a deal as sanctions pressure intensifies on the Russian oil.

The assets, which Lukoil values at about $22bn, span refineries in Europe, stakes in oilfields across Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt, and Nigeria, and a global network of retail fuel stations.

The portfolio accounts for roughly 0.5% of global oil output.

Any transaction would require a US licence. Sources said Carlyle is considering f…