Khadija Saeed

Chevron Corp shares nudged up 0.2% in after-hours Monday, closing at $162.34. The stock held firm after Reuters reported that Chevron, paired with private-equity firm Quantum Capital Group, is among the top contenders to acquire Lukoil’s $22 billion overseas portfolio. This includes oil fields in Iraq, Azerbaijan, Kazakhstan, plus refineries and fuel stations across Europe and the U.S., all ahead of a Jan. 17 U.S. deadline. Also bidding are private equity heavyweight Carlyle and Abu Dhabi’s International Holding Company. Any deal would require approval from the U.S. Treasury’s Office of Foreign Assets Control, which has already blocked two previous attempts, according to the report.