Chevron to buy $22 Billion worth of assets from Russian oil company Lukoil?

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The Financial Times reported, citing people familiar with the matter, that Chevron Corp. (NYSE: CVX) and Quantum Capital Group are working on a bid to buy the international assets of sanctioned Russian oil company Lukoil.

In October, the U.S. Office of Foreign Assets Control designated Lukoil as a sanctioned company. Later that month, Lukoil announced it was working to sell its international assets, “owing to introduction of restrictive measures against the company and its subsidiaries by some states.”

Various media outlets have reported that Lukoil valued the assets at $22 billion.

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LINK

Pretty decent chunk of an apple to bite off after just closing on a $53 Billion purchase of Hess last summer.

For those who may not remember, Lukoil was one of the few Russian companies to voice opposition to Putin’s invasion of Ukraine. Shortly after, its CEO died after “falling” out of a window, then a year later, the successor CEO died suddenly of an acute heart failure.