Chevron reported to be bidding for Lukoil's overseas assets, a Russian energy giant.

According to Reuters, citing sources familiar with the matter, Russian energy giant Lukoil, which is subject to US sanctions, is seeking to sell its overseas assets, and Chevron has joined the potential buyers, currently researching possible acquisition plans. The US Treasury Department approved last week interested buyers to negotiate overseas assets with Lukoil, allowing Chevron and other institutions like Carlyle to compete for this portfolio of assets valued at least $20 billion. Sources revealed that Chevron's focus is on assets with overlapping businesses with Lukoil, rather than the entire overseas asset portfolio.