Exxon Joins Chevron in Eyeing Lukoil’s Global Fire Sale

Market Intelligence Analysis

AI-Powered
Why This Matters

Exxon is reportedly considering acquiring Lukoil's assets in Kazakhstan, following a relaxation of US sanctions on the Russian major, with Chevron also eyeing the same opportunity.

Market Impact

Market impact analysis based on bullish sentiment with 72% confidence.

Sentiment
Bullish
AI Confidence
72%

Article Context

Note: This is a brief excerpt for context. Click below to read the full article on the original source.

Exxon is now circling the same distressed prize Chevron has been eyeing: chunks of Lukoil’s global portfolio, suddenly up for grabs after Washington loosened the legal chokehold on the sanctioned Russian major. Multiple sources say Exxon is actively weighing options to acquire Lukoil assets in Kazakhstan, where both companies already sit alongside the Russian firm in the Karachaganak and Tengiz projects. Chevron, a partner in both fields, has been running its own valuation process since last week’s Treasury move cracked the door open.…

Continue Reading
Full article on OilPrice.com
Read Full Article
Original article published by OilPrice.com on November 18, 2025.
Analysis and insights provided by AnalystMarkets AI.