Chevron and private equity group Quantum Energy Partners are teaming up on a bid to buy the international assets of Russian oil major Lukoil, which are valued at $22 billion, the Financial Times reported on Wednesday. Chevron, Quantum, Lukoil and the White House did not immediately respond to requests for comment. Reuters reported in November that Chevron was studying options to buy Lukoil’s global assets. Reuters also reported in December that Saudi Arabia’s Midad Energy had emerged as one of the leading contenders to buy Lukoil’s international assets.
If a deal is reached, Chevron and Quantum plan to split Lukoil’s assets between them, FT said.
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Mrigank Dhaniwala and Sonia Cheema)