Tag: Lukoil
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Kazakhstan still doing business with Lukoil and Rosneft despite sanctions
Kazakhstan is still doing plenty of business with Lukoil and Rosneft despite US sanctions against the Russian oil-giants. Kazakh authorities have still not taken action with regard to sanctions and there is no sign that the Russian companies will be pulling out of the country. Lukoil and Rosneft have significant footprints in Kazakhstan. Lukoil’s assets…
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Bulgarian government to take over Lukoil’s refinery: Lukoil’s plant in Iraq gutted
The Bulgarian government is in the process to take over the Neftohim Burgas oil-refiner owned by Lukoil following sanctions issued by the US. Lukoil management is barred from voting over the sale which will be managed and directed by the government according to Reuters. The plant is currently being protected by anti-drone systems. The President…
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US Treasury Department says it won’t accept Gunvor’s purchase of Lukoil’s assets
US Department of the Treasury has announced that it won’t be accepting Gunvor purchase of Lukoil’s foreign assets. Gunvor is owned by the Swedish billionaire Torbjörn Törnqvist, who is a friend and close associate of Vladimir Putin. He purchased Guvnor from its co-founder, Gennady Timchenko, another close Putin associate before he was sanctioned by the…
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Lukoil to sell its foreign assets to company with ties to Vladimir Putin
The biggest privately-owned Russian oil company, Lukoil has announced it will be selling its foreign assets to the company Gunvor after it was sanctioned by the US Treasury Department. Gunvor Group Ltd is a company with strong ties to Russia’s President Vladimir Putin. You can read more about Gunvor here. According to Bloomberg, President Trump…
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US Department of the Treasury sanctions Lukoil and Rosneft
The US Treasury Department has sanctioned Russia’s largest state-owned oil company, Rosneft, along with Russia’s largest privately-owned oil-company, Lukoil, including a number of their subsidiaries. All of their majority-owned subsidiaries have been blocked. The Treasury Department announced that the decision was part of the US government’s actions to put pressure on Russia to end the…
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Hungary with less than 90 days of oil left as Ukraine halts Russian flow of oil through Druzhba Pipeline
Hungary is refusing help from Western governments and oil companies as it intends to keep purchasing oil from Russian companies Lukoil or Rosneft after Ukraine cut off the oil-flow of the Druzhba pipeline (Friendship 3). The Druzhba pipeline transfers oil from Russia to Hungary and Slovakia through Ukraine. Ukraine cut off its flow late last…
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Russian oil-giant Lukoil registered a company in Malta a month before it invaded Ukraine
Russian oil-giant Lukoil registered a company in Malta in January of this year. Currently, Lukoil is using an oil refinery that it owns in Sicily to circumvent EU and US sanctions. It is unclear why Lukoil registered a company in Malta just right before it invaded Ukraine, but as soon I know I will let…
