PJSC "LUKOIL" (hereinafter – the "Company") informs that it received an offer from Gunvor Group Ltd. (hereinafter – the "Purchaser") to purchase LUKOIL International GmbH (100% subsidiary of PJSC "LUKOIL" which owns international assets of LUKOIL Group). The key terms of the transaction have been earlier agreed by the parties.​

On its side, PJSC "LUKOIL" accepted the offer, having undertaken not to negotiate with other potential buyers.

The conclusion of the binding agreement for the transaction is subject to conditions precedent including obtaining OFAC permission by the Purchaser as well as any other applicable licenses, permits and other authorizations in other applicable jurisdictions. If necessary, the parties plan to apply for extension of the existing OFAC license and any additional licenses to ensure uninterrupted operations of international assets and their banking servicing for the period until the completion of the transaction.

The sale of LUKOIL International GmbH is due to restrictive measures of some states introduced against the Company and its subsidiaries.

About Lukoil

LUKOIL is one of the largest oil & gas vertical integrated companies in the world accounting for over 2% of crude production and circa 1% of proved hydrocarbon reserves globally. LUKOIL enjoys a full production cycle to control the entire value chain from upstream to downstream. LUKOIL employs over 110 thousand people who join their efforts and talents to secure the Company’s market leadership.

About Gunvor Group

Gunvor is one of the world’s largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy from where it is sourced and stored to where it is demanded most. Gunvor has strategic investments in industrial infrastructure — refineries, pipelines, storage and terminals — that complement our core trading activity and generate sustainable value across the global supply chain for our customers. The company, which in 2024 generated U.S. $136 billion in revenue on 232 million MT of volumes, is the leading independent global trader of liquefied natural gas (LNG).​