Chevron, Quantum Capital Bid on Lukoil Assets, FT Says (Correct)

Chevron Corp. and private equity group Quantum Capital Group LLC will join forces to buy the international assets of sanctioned Russian oil company Lukoil PJSC, according to the Financial Times.

Chevron and Quantum would split the portfolio, which includes oil and gas production, refining facilities and filling stations, the newspaper said, citing people familiar with the matter. Lukoil values the assets at $22 billion, according to the FT.

The move comes after the US government in October announced sanctions on Russia’s two largest crude oil producers, Rosneft PJSC and Lukoil. Commodities trader Gunvor Group had initially planned ...