KazMunayGas reportedly close to taking over Lukoil's filling stations in Romania

The Kazakh state-owned group KMG (KazMunayGas), which owns the Romanian Rompetrol group and hence the largest refinery in Romania (Petromidia), has reportedly reached an agreement with the Russian group Lukoil on the takeover of the filling stations in Romania, according to sources familiar with the negotiations quoted by Ziarul Financiar.

It is not entirely clear whether the deal regards all the 315 Lukoil stations in Romania.

At the end of 2022, the Shell group was among those interested in Lukoil's network of stations.

The 315 units, as reported on the Lukoil Romania website, have very good locations, some right in the centre of the cities, making them attractive as future locations for electric car chargers as well.

But the takeover of Lukoi filling stations would address a more stringent problem of KMG: namely investing, through the Kazakh-Romanian Energy Investment Fund (FIEKR, owned in partnership with the Romanian state), in 80 filling stations. KMG committed to carrying out through FIEKR certain investments, including the 80 filling stations (due by the end of this year) under a broader arrangement involving historic debts of the Petromidia refinery.

(Photo source: Mira Agron/Dreamstime.com)