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flag Chevron and Quantum bid $22B for Lukoil’s global assets amid U.S. sanctions.

flag Chevron and Quantum Energy Partners are reportedly forming a $22 billion joint bid for Lukoil’s international assets, including upstream and downstream operations in Europe, the Middle East, and Africa, according to the Financial Times. flag The proposed deal, unconfirmed by any party, follows U.S. sanctions on Lukoil and Rosneft, prompting the sale of the Russian oil company’s global operations. flag Chevron had been exploring a purchase since November, with other potential buyers including Midad Energy, Exxon, and MOL. flag The transaction, if approved, would mark a major shift in the global energy market amid ongoing geopolitical and market changes.

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