Saudi Arabia-backed Midad Energy has signed a term sheet to acquire Russia’s sanctioned Lukoil assets in a high-stakes contest against rivals including private equity giant Carlyle Group, with the deal contingent on US regulatory approval, a Reuters report said citing three people familiar with the matter.
US private equity firm Carlyle has begun talks with UAE investors to bring in partners should its deal to buy Russian Lukoil's international assets worth $20 billion proceed, said a report. Lukoil boasts strategic stakes in European refineries as well as significant holdings in oil fields from Iraq to Kazakhstan.
Exxon Mobil has approached the Iraqi oil ministry to express its interest in buying Russian firm Lukoil's majority stake in the giant West Qurna 2 oilfield, five Iraqi official sources with direct knowledge of the matter told Reuters.
