Rosneft and Lukoil Sanctions: U.S. Grants License for Operations at CPC, TCO, and Karachaganak
Photo: Tengizchevroil
The United States has issued special licenses for the Caspian Pipeline Consortium (CPC), Tengizchevroil, and the Karachaganak project, Orda.kz reports.
The general licenses authorize “petroleum services and other transactions” necessary for the ongoing operation of these three projects.
However, the license explicitly prohibits any transactions involving the sale, transfer, or disposal of ownership stakes in CPC, Tengizchevroil, or the Karachaganak ventures.
The U.S. Treasury also extended the deadline for certain transactions required to coordinate and finalize the sale of Lukoil International GmbH and related foreign assets of Lukoil until December 13, 2025.
Transactions involving the Russian company's Bulgarian subsidiaries — Lukoil Neftohim Burgas JSC, Lukoil Bulgaria EOOD, Lukoil Aviation Bulgaria EOOD, and Lukoil Bulgaria Bunker EOOD — are authorized until April 29, 2026.
Earlier, Orda.kz reported on how Lukoil’s largest foreign asset — the refinery in Bulgaria — is linked to Kazakhstan.
Lukoil remains Russia's most active oil company abroad.
It owns three refineries in Europe, hundreds of fuel stations worldwide, and holds stakes in oil projects in Kazakhstan, Uzbekistan, Iraq, Mexico, Ghana, Egypt, and Nigeria.
In Kazakhstan, Lukoil is involved in Tengizchevroil, the Caspian Pipeline Consortium, the Karachaganak project, and owns a plant in the Almaty region.
Original Author: Oksana Matvienko
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