Overview
- Energy Minister Bogdan Ivan said Romania will take control of Petrotel Lukoil to ensure compliance with international measures and protect 5,000 jobs.
- Bucharest will not seek a delay to U.S. sanctions on Lukoil and Rosneft, which take effect on Nov. 21.
- The Energy Ministry is drafting legislation to keep the refinery operating and safeguard fuel supplies, with the takeover mechanism yet to be detailed.
- Lukoil’s Romanian operations include about 320 filling stations, the Petrotel refinery supplying roughly a quarter of the fuel market, and Black Sea exploration rights.
- Bulgaria is preparing similar control measures for Lukoil’s Burgas refinery, though the president has returned the seizure-and-resale bill to parliament for changes.