site.btaLukoil Agrees on Sale of Its Global Assets with US Investment Company

Lukoil has signed an agreement with US investment company Carlyle on the sale of LUKOIL International GmbH, which owns Lukoil's international assets, the company said on its website.

Lukoil came under US and UK sanctions in October 2025. In November, both countries allowed a temporary pause on sanctions.

The LUKOIL assets in Bulgaria include LUKOIL-Bulgaria EOOD (a chain of over 200 filling stations), LUKOIL Neftochim Burgas AD (the largest oil refinery in the Balkans), LUKOIL Aviation Bulgaria EOOD (an aircraft refuelling operation), and Sustainable Energy Supply EOOD (marketing and trading in natural gas and other hydrocarbons).

The transaction does not include the assets in Kazakhstan which will remain a property of LUKOIL Group and continue their operations under respective license, the announcement said.

It specifies that the agreement signed is not exclusive for the Lukoil and is subject to some conditions such as procurement of necessary regulatory approvals including permission by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) for the transaction with Carlyle.