site.btaLUKOIL Accepts Gunvor Group's Offer to Purchase Russian Company's International Assets

The LUKOIL public joint-stock company announced in a press release on Thursday that it had accepted an offer from Gunvor Group Ltd. to purchase LUKOIL's wholly owned subsidiary, LUKOIL International GmbH, which owns LUKOIL Group's international assets.

The press release specified that the key terms of the transaction had been agreed earlier by the parties and the Russian oil company had undertaken not to negotiate with other potential buyers.

On October 27, LUKOIL unveiled plans to sell its international assets in response to sanctions imposed by the US Department of the Treasury's Office of Foreign Assets Control (OFAC) on October 22, 2025.

Thursday's press release said that the parties plan to apply for extension of the purchaser's existing OFAC licence and any additional licences to ensure the uninterrupted operations of the international assets and their banking servicing for the period until the completion of the transaction. 

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