After the US extended a waiver allowing Russian firm Lukoil to operate assets outside of Russia until late October, Romania and Bulgaria are hurrying to take advantage.
Marian Chiriac
After the US extended a waiver allowing Russian firm Lukoil to operate assets outside of Russia until late October, Romania and Bulgaria are hurrying to take advantage.
Cars refuel at a Lukoil gas station in Bucharest, Romania, December 2025. Photo: EPA/ROBERT GHEMENT.
Romania is expected to restart the Petrotel-Lukoil refinery within 45 days after securing a sanctions waiver from the United States, Energy Minister Bogdan Ivan said on Wednesday.
“This is very good news for Romania, as the refinery supplies roughly a quarter of the country’s fuel demand. Its reopening will help stabilise the domestic market and reduce imports,” Ivan said.
He also noted that Petrotel will not process Russian crude oil, but rather crude sourced from other markets, though he did not provide further details.
In Romania, Lukoil operates around 320 petrol stations and owns the country’s third-largest refinery, Petrotel. The company also holds offshore exploration rights in a section of the Black Sea.
The Petrotel refinery was shut down last year for maintenance. Once operational again, it is expected to cover the country’s entire petrol consumption, more than 60 per cent of its diesel demand, and all of its aviation fuel needs.
Bulgaria also welcomed the Trump administration’s decision to extend the derogation period for US-sanctioned Russian company Lukoil’s operations in the country until October 29.
“The new extension … will help avert what could otherwise become the most serious energy, economic, and logistical crisis for Bulgaria and the wider region, particularly amid escalating instability in the Middle East and severely constrained oil supplies,” Energy Minister Traicho Traikov said in a press release, as quoted by SEE News.
Traikov added that the extended derogation will allow predictability and stability for the operations of fuel retailer Lukoil Bulgaria, the country’s sole oil refinery Lukoil Neftochim Burgas, as well as for aviation fuel distribution.
