Abu Dhabi’s IHC Says It’s Interested in Lukoil’s Overseas Assets
(Bloomberg) -- Abu Dhabi’s International Holding Co. is exploring a possible acquisition of Lukoil PJSC’s overseas operations, the company said, the latest suitor positioning for opportunities created by Western sanctions on the Russian energy giant.
IHC, a publicly listed investment company in the UAE, has notified the US Treasury Department of its interest in buying some of the Russian producer’s international assets, a spokesman for the company said.
Reuters reported earlier that IHC had expressed interest in the assets, some of which have also drawn attention from companies including Exxon Mobil Corp., Chevron Corp. and private equity group Carlyle Group. IHC is chaired by Sheikh Tahnoon bin Zayed Al Nahyan.
Lukoil, Russia’s second-largest oil company, has been seeking buyers for its foreign network — spanning refineries, oil deposits, retail stations and global trading operations — amid tightening US sanctions that have hampered its ability to operate outside Russia.
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