The Petrotel refinery owned by Russian group Lukoil should start operating because “a letter was received from the American authorities,” which had to be compliant in terms of criteria, former energy minister Bogdan Ivan said on Monday, April 27, Agerpres reported.
Lukoil’s Petrotel refinery came earlier this year under sanctions by the US Department of the Treasury’s Office of Foreign Assets Control.
After the final decision is made, the equipment is tested, and the contracts for the import of crude oil compatible with the equipment are signed, such that production can begin. Outgoing minister Ivan previously estimated that preliminary procedures could take some 45 days.
Ivan stressed that oil will not be imported from the Russian Federation but from other producers of oil compatible with the one refined at Petrotel: Kazakhstan or Azerbaijan.
Almost two weeks ago, the OFAC extended until October 29 the deadline for Lukoil to sell its gas stations abroad, according to a statement posted on the US Treasury website and quoted by Reuters. The gas stations can be operated, and third parties can conduct operations with the Lukoil gas stations, by that time. The US Treasury also issued a license allowing certain transactions with Lukoil refineries in Bulgaria, including Lukoil Neftohim Burgas JSC.
Lukoil was included in the list of entities sanctioned by the US in October 2025, which attracted interest from potential buyers for the Russian oil company’s international assets, estimated at USD 22 billion.
iulian@romania-insider.com
(Photo source: Inquam Photos/George Calin)
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