Largest Private Network of Filling Stations in Belarus May Become American
The largest private network of gas stations in Belarus may come under the control of American capital. Lukoil, which is under US sanctions, plans to sell its foreign business to the investment fund Carlyle, writes the publication "Belarusy i rynok".
Illustrative photo. Photo: lukoyl-belorussiya.ibiz.by
As the Russian publication RBC reports, the American investment fund Carlyle, which is among the two thousand largest companies in the world, intends to buy out almost all of Lukoil's foreign assets. The only exceptions will be projects in Kazakhstan — they will remain with the Russian group. However, the deal will still require approval from a number of regulators, including the US Treasury Department.
As a result of this deal, Carlyle may gain access to Lukoil's oil and gas production projects in ten countries, including Azerbaijan, Iraq, Uzbekistan, Egypt, Cameroon, Nigeria, Ghana, Congo, Mexico, and the UAE. In addition, it involves three oil refineries in Romania, Bulgaria, and the Netherlands, as well as networks of filling stations and enterprises for the production of oils, lubricants, and other technical fluids.
This list also includes Belarusian assets: the subsidiary company "Lukoil-Belarus", which manages more than 80 filling stations, oil depots and gas filling stations, as well as a stake in the "EddiTek" plant in Novopolotsk, which produces fuel additives. If the deal goes through, these assets will effectively become the property of the American investment fund.