Romania to place Lukoil’s local assets under extended state supervision

The Ministry of Energy recommended placing the entities owned in Romania by the Lukoil group under an extended state supervision regime, based on an emergency ordinance passed on December 2, allowing the state to establish such a regime for companies under international sanctions. The ministry proposed Bugheanu Ion-Bogdan as supervisor, according to a draft decision published on February 11 on the website of the Ministry of Energy.

The regime will allow the Ministry of Energy to intervene quickly in the event of risks that would affect the supply of crude oil, the operation of refining facilities, or deliveries to the distribution chain. Thus, the national processing capacity will be protected, and blockages that could destabilise the fuel market will be avoided.