World News
Lukoil to Sell International Operations After US Sanctions
Russian privately owned oil company Lukoil is set to sell off its international operations following new sanctions from the US.
The firm is now seeking buyers for its international assets, it said in a statement on its website on Monday.
"Owing to the introduction of restrictive measures against the Company and its subsidiaries by some states the Company announces its intention to sell its international assets," Lukoil said in the statement.
"The consideration of bids from potential purchasers has been started.
"The sale of the assets is conducted under OFAC wind down license.
"If necessary the Company plans to apply for extension of the license to ensure uninterrupted operations of its international assets."
The US announced new sanctions on Russian state oil firm Rosneft and Lukoil on Wednesday in response to the ongoing war in Ukraine.
Companies have until November 21 to 'wind down' any existing trade with the companies or related entities.
Lukoil's international assets of interest to the bunker industry include Lukoil Bulgaria, a key supplier of marine fuel in the Black Sea.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 460.00 | 1.00 | 721.00 | 3.50 |
| Rotterdam | 437.00 | 4.50 | 693.50 | 13.50 |
| Houston | 456.50 | 8.00 | 676.00 | 2.00 |
| Fujairah | 461.00 | 6.50 | 752.50 | 0.00 |
| Global 20 Ports Average | 499.00 | 0.50 | 773.50 | 7.50 |
| Global 4 Ports Average | 453.50 | 2.00 | 710.50 | 4.50 |
| Global Average Bunker Price | 540.50 | 1.50 | 807.00 | 9.00 |
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