FT: American companies are eyeing Teboil’s owner

Sanctions more buyer candidates have appeared for the target Russian oil company Lukoil.

Financial Times – magazine, the US oil company Chevron and the private equity company Quantum Capital Group are preparing a joint offer to buy Lukoil’s international assets.

If the deal goes through, Chevron and Quantum plan to split the assets between them, sources familiar with the matter tell the Financial Times. Lukoil has valued the assets at $22 billion.

The offer led by Quantum covers Lukoil’s entire international asset portfolio, which includes oil and gas production, refineries and more than 2,000 service stations in Europe, Asia and the Middle East. The Teboil chain operating in Finland is also included.

A senior US official tells the FT that he welcomes Quantum and Chevron’s proposal.

Chevronin and in addition to Quantum, offers for Lukoil’s assets outside of Russia have also been made by the capital investment company Carlyle and the Abu Dhabi-based conglomerate International Holding Company.

The US Treasury has granted the companies permission to negotiate with Lukoil until January 17. The deal requires US government approval, which is granted by the president For Donald Trump veto in practice.

The auction process began in November when Swiss raw materials trader Gunvor canceled its deal with Lukoil after the Trump administration announced it would block the deal.

In Finland, Teboil, owned by Lukoil, has run into difficulties due to sanctions against the parent company.

Banks have suspended Teboil’s payment traffic, and fuel delivery to gas stations has stopped. At the end of November, Teboil applied for corporate restructuring. The company has a network of approximately 400 gas stations in Finland.