According to Serbian Economist, Saudi company Midad Energy is considered one of the main contenders for the purchase of foreign assets of Russian oil company LUKOIL, which include retail assets in Serbia, Reuters reports, citing sources.
According to the agency, this involves LUKOIL’s international asset portfolio, with an estimated value of around $22 billion, which includes oil and gas fields, oil refineries, and a network of gas stations in approximately 20 countries. The sale is linked to tough US and UK sanctions against the company, imposed in October 2025.
Reuters notes that Midad Energy CEO Abdulelah Al-Aiban is the brother of Saudi Arabia’s national security adviser Musaed Al-Aiban. According to sources, the company is preparing a cash offer with funds placed in an escrow account until the sanctions against LUKOIL are lifted.
In addition to Midad Energy, ExxonMobil, Chevron, private investment fund Carlyle Group, Emirati conglomerate International Holding Company (IHC), Hungarian MOL, trader Gunvor, Xtellus Partners bank (together with a group of investors led by Todd Boehly and the Emirati Allied Investment Partners), Abu Dhabi state-owned company ADNOC, and Austrian entrepreneur Bernd Bergmeier.
Source: https://t.me/relocationrs/1949
