Mexico's Carso to Buy Mexican Subsidiary of Lukoil

Dow Jones01-20

By Anthony Harrup

MEXICO CITY--Mexican industrial and retail conglomerate Grupo Carso agreed to buy a subsidiary of Russia's Lukoil with which it will raise to 100% its interest in two Mexican offshore oil fields.

Carso, controlled by billionaire Carlos Slim, said in a filing Monday with the Mexican stock exchange that it has agreed to pay $270 million for Fieldwood Mexico, a unit of Lukoil which has a 50% interest in two oil fields in the southern Gulf of Mexico. Carso will also pay $330 million in debt that the subsidiary has with Lukoil.

Carso acquired its first 50% interest in the fields--Ichalkil and Pokoch--in 2024 with the acquisition of Mexico's PetroBal.

Lukoil is seeking to sell its international assets after being hit with U.S. sanctions in November. Carso said the transaction requires regulatory approvals in Mexico, as well as "express and specific authorization" from the U.S. Office of Foreign Assets Control.

"With this transaction, Grupo Carso through its subsidiary Zamajal is consolidating its majority participation in the field, reaffirming its commitment to the upstream hydrocarbon sector in Mexico," the company said.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

January 20, 2026 08:30 ET (13:30 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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