Related Articles
Forward article link
Share PDF with colleagues

Lukoil’s Romanian operations under threat

Authorities ordered the Petrotel oil refinery to stop production to investigate money laundering

The Russian oil major Lukoil’s refining operations in Romania are under threat of nationalisation after the authorities ordered the Petrotel oil refinery to halt production and seized inventories. The move comes as prosecutors investigate allegations of tax evasion and money laundering totaling €230 million ($293.3m) at the Lukoil subsidiary. Lukoil said 13 October that it had restarted production at the refinery, near Ploiesti, after being forced to halt operations following a raid by Romanian prosecutors and police on 2 October. The authorities seized Petrotel’s oil and fuels inventories during the raid. Russia's ambassador to Romania, Oleg Malginov, said in a statement issued on 6 Octob

Also in this section
Tech firms ride North Sea revival
14 August 2018
Rising technology firms are offering innovations that meet the efficiency needs of North Sea operators
UK industry looks to tech collaborations
14 August 2018
An Aberdeen-based group is encouraging tech-based solutions to maximise recovery from the UK continental shelf
OMV provides faint light in Yemen gloom
13 August 2018
Austria's OMV, the first IOC to return to Yemen since the war started, has resumed limited exports