Romania reportedly decides to only supervise local Lukoil refinery during ownership transfer

The Romanian authorities will only supervise the operations at Lukoil’s Petrotel refinery and not be involved in its management until a new owner is found, according to an emergency ordinance approved by the government in Bucharest this week, as reported by Hotnews.ro. Russian group Lukoil is seeking buyers for its international assets, after it came under US sanctions as an entity of the Russian state.

Separately, Lukoil’s license for the offshore perimeter Trident may be cancelled, under amendments to the Oil Law to address situations where license owners come under international sanctions.