Romania is preparing special legislation to enable the sale of Lukoil’s local assets, including the Petrotel refinery, marking a shift in strategy after Energy Minister Bogdan Ivan initially argued that the state should take direct control of the facility rather than request additional time under the U.S. sanctions deadline of 21 November.
The United States has since extended that deadline by three weeks, until 13 December. According to Romanian officials, the extension became necessary because the government does not currently have access to the estimated 200 million euros required to restart and operate the refinery in the event of a short-term nationalization.
Under the new plan, the government aims to adopt an emergency ordinance before 21 November that would authorize a supervised sale of the refinery, ensuring that the transaction can advance without bureaucratic delays. A second legal measure, expected by 13 December, will define the procedures for the sale and transfer of Lukoil’s network of roughly 300 petrol stations in Romania.
Earlier this month, Minister Ivan said the government was considering a temporary takeover of Lukoil’s domestic operations, similar to measures implemented in Bulgaria and Germany. He emphasized that securing control over the Petrotel refinery is vital for ensuring compliance with international sanctions, protecting around 5,000 jobs, and preserving the stability of Romania’s national energy system.
