16:55 - 13.02.2026

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February 13, Fineko/abc.az. In late January, Midad Energy (Saudi Arabia) has signed an agreement of intent to acquire Lukoil's foreign assets, sources tell Reuters. The deal has not yet been officially confirmed.

ABC.AZ reports that earlier, on January 29, Lukoil announced a preliminary agreement with American investment fund Carlyle. The Saudis are ready to pay for assets in cash and place funds in an escrow account until they receive permits, including approval from the U.S. Treasury Department.

Analysts note that the deal is beneficial to both sides: the U.S. can support it in order to maintain relations with Saudi Arabia, and Lukoil will receive cash and competition for assets will reduce the discount.

Other bidders, including Chevron, are continuing negotiations, and initially trader Gunvor was interested, whose deal fell through due to the position of the U.S. Treasury.