Ghana Wants to Buy Out Lukoil’s Stake: Details
13 May 17:20
Ghana is actively pursuing the acquisition of a stake in the Deepwater Tano Cape Three Points offshore oil block from the Russian company Lukoil. This decision is aimed at gaining greater control over future oil production in the country.
Bloomberg reported this, citing sources familiar with the situation, according to "Komersant Ukrainian".
According to the publication, the West African nation is considering exercising its right of first refusal to purchase a 38% stake in Lukoil, which is subject to sanctions. This became possible after the Carlyle Group private equity fund agreed in January to acquire most of Lukoil’s international portfolio, which likely includes the Ghanaian block.
“Ghana has a preemptive right to this stake,” sources noted.
Carlyle declined to comment on whether it is claiming this stake as part of the deal to purchase several assets from Lukoil.
The Russian company did not respond to a request for comment, and Ghana’s Ministry of Energy also declined to comment.
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U.S. Sanctions Against Lukoil
The U.S. has imposed sanctions against two Russian oil companies, Lukoil and Rosneft. Against this backdrop, several EU countries where Lukoil refineries are located have begun seeking a solution to prevent the plants from shutting down.
In particular, the Bulgarian parliament has authorized the government to appoint a new head of the refinery. The facility may be nationalized and then sold to new owners.
In addition, the Hungarian company MOL has informed U.S. officials of its interest in acquiring the international assets of sanctioned Lukoil.
Recall that Vladimir Putin held a telephone conversation with U.S. President Donald Trump. During this conversation, Putin expressed his readiness to declare a “ceasefire” on May 9.
On April 30, the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury extended the deadline for the sale of foreign assets belonging tothe Russian oilgiant Lukoil for the fifth time, which demonstrates the long-term impact of sanctions on the company.
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