Lukoil co-founder Leonid Fedun has sold his stake in Russia's largest private oil company, Reuters <a href="https://www.reuters.com/business/energy/lukoil-co-founder-fedun-sells-his-stake-back-company-sources-say-2025-11-25/">reported</a>, citing three sources and available documents. According to the agency's interlocutors, the deal took place back in early 2025, with Lukoil itself becoming the buyer.

Reuters calculates that Fedun's stake - about 10% of the company - was worth about $7 billion based on market prices. "It is unclear whether he received such a price," the agency wrote.

"Lukoil declined to comment and Fedun could not be reached by Reuters.

In October, Lukoil fell under US sanctions, after which it announced its intention to sell its international assets. Among the companies interested in the assets are US oil giants Exxon Mobil and Chevron, US investment fund Carlyle Group and UAE energy company Abu Dhabi National Oil (ADNOC), Reuters and Bloomberg <a href="https://oninvest.com/article/exxon-prisoedinilsa-k-chevron-v-kacestve-pretendenta-na-aktivy-rossijskogo-lukojla">wrote</a>, citing sources.

Fedun, unlike Lukoil's other founder and former president Vagit Alekperov, has not been hit by Western sanctions against Russia. In 2022, Fedun stepped down as Lukoil's vice president, a position he held for more than 25 years, and also sold his stake in Moscow's Spartak soccer club. According to one of Reuters' interlocutors, Fedun decided to reduce his assets in Russia because he now resides in Monaco.

<i>This article was AI-translated and verified by a human editor</i>

Chevron Corporation

Exxon Mobil Corporation

Exxon Mobil Oil Corporation is among the companies that are interested in international assets of Lukoil, which has fallen under U.S. sanctions, Bloomberg sources <a href="https://www.bloomberg.com/news/articles/2025-11-18/lukoil-s-suitor-list-grows-to-include-exxon-chevron-abu-dhabi?srnd=homepage-europe&amp;sref=Y0jVLcFo">said </a>. The possibility of buying part of the Russian oil giant's foreign business is also being studied by Chevron, Reuters <a href="https://oninvest.com/article/chevron-izucaet-vozmoznost-vykupa-aktivov-popavsego-pod-sankcii-lukojla-reuters">wrote the</a> day before, also citing sources. Exxon and Chevron are considering Lukoil's stake in Iraq's West Qurna-2 field, two Bloomberg sources said.

Exxon joins Chevron as bidders for Russian Lukoil assets

Energy corporation Chevron is considering buying out part of the foreign business of Russian oil giant Lukoil, which has fallen under U.S. sanctions, five sources <a href="https://www.reuters.com/business/energy/chevron-joins-race-explore-potential-purchase-lukoil-assets-sources-say-2025-11-17/">told </a>Reuters. According to them, the U.S. company is studying options to buy those assets that overlap with its own, rather than the entire foreign portfolio of Lukoil, estimated at a minimum of $20 billion, the agency said.

One of the founders of sanctioned Lukoil sells his stake - Reuters