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SAUDI ARABIA BREAKING NEWS
Saudi-backed Midad signs term sheet to acquire Lukoil’s sanctioned assets, pending US approval – Reuters
A Lukoil fuel station is pictured in Newark, New Jersey, U.S., March 3, 2022. REUTERS/Eduardo Munoz Riyadh, February 13, 2026 (Reuters via Saudi Arabia Breaking News) – Saudi-backed Midad Energy has signed a term sheet to acquire Russia’s sanctioned Lukoil assets, in a deal contingent on U.S. regulatory approval, three sources familiar with the matter said. The agreement, signed in late January, covers all targeted assets. Midad has placed its all-cash offer in escrow while a
Feb 131 min read
Chevron seeks improved terms in Iraq talks before taking over Lukoil oilfield - sources
A Chevron logo at the Chevron building in Houston, Texas, U.S. August 19, 2025. REUTERS/Kaylee Greenlee BASRA/LONDON, Jan 28 (Saudi Arabia Breaking News) – U.S. oil major Chevron is seeking improved contractual terms from Iraq as a condition for taking over the giant West Qurna 2 oilfield from Russia’s Lukoil, three sources familiar with the matter said. Iraq nationalised the oilfield earlier this month after the United States imposed sanctions on Lukoil linked to the war in
Jan 271 min read
Saudi Arabia’s Midad Energy Emerges as Leading Bidder for Lukoil’s Overseas Assets
SPA LONDON, December 16 (Saudi Arabia Breaking News) – Saudi Arabia’s Midad Energy has emerged as one of the leading contenders to acquire Russian oil major Lukoil’s international assets, leveraging political ties with Moscow and Washington, three people familiar with the matter told Reuters. The assets, valued at around $22 billion and spanning oilfields, refineries and thousands of fuel stations worldwide, have attracted bids from about a dozen investors, including U.S. oil
Dec 16, 20252 min read
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