Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to Business FM on the future of LUKOIL's foreign assets.
Lukoil has announced force majeure in operations at the field due to the US sanctions imposed against the company. Payments to Lukoil, both in cash and in crude oil, for work at the field stopped at the end of October, after the sanctions imposition.
The United States has set aside a month to complete the deal with Lukoil, which expires on November 21. The players expect that the States will extend this period, as it may take about six months to complete the deals, Alexey Belogoryev comments:
"If we talk about Lukoil's main foreign assets, it is not possible to sell them before November 21, since in many cases regulatory approval is required not only from the United States, but also from national governments. The sale may not be completed until the spring of 2026, which means it will take six months, maybe even more. Accordingly, everyone is now waiting for the position of the US Treasury Department, whether it is ready to issue a license to continue asset sales and, last but not least, an operating license. What is happening with the production in Iraq is something that is now in the field of attention, probably, of the entire market."
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