lukoil

Bulgaria confirms no extra U.S. conditions for Lukoil sanctions waiver

Energy Minister Zhecho Stankov stated that Bulgaria is not subject to any additional U.S. conditions for the recently approved sanctions exemption for Lukoil to take effect. He said that Washington’s decision to postpone enforcement has eased the pressure seen in recent weeks, and noted that the waiver could be extended again if necessary. According to […]

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Region: US extends license for Lukoil asset transactions until 13 December

The US Department of the Treasury’s Office of Foreign Assets Control has issued a new license allowing transactions related to the sale of Lukoil’s international assets to continue until 13 December. In addition, four Lukoil subsidiaries operating in Bulgaria have received authorization to maintain their activities until 29 April 2026. The same 13 December deadline

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Region: Carlyle eyes acquisition of Lukoil’s global assets amid intensifying U.S. sanctions

US private equity firm Carlyle is examining the possibility of acquiring segments of Lukoil’s international portfolio, as Washington intensifies sanctions on the Russian oil company in an effort to pressure Moscow toward negotiations over Ukraine. Lukoil represents about 2 percent of global oil production through its operations in Russia and abroad. The company has announced

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Bulgaria moves ahead with special administrator for Lukoil despite Presidential warning

Bulgaria’s National Assembly has taken steps that move in different directions regarding the expanded powers granted to a Government-appointed administrator for the country’s only oil refinery, Lukoil Neftochim Burgas. President Rumen Radev vetoed the amendments, arguing that the changes undermine the rule of law, contradict key European legal standards, and expose public finances to unnecessary

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Romania: No extension on U.S. sanctions as government moves to secure petrotel operations

Romania will fully comply with the international sanctions imposed on Lukoil and will not request an extension beyond the 21 November deadline set by U.S. authorities. Energy Minister Bogdan Ivan said that the Government is working intensively on a legal mechanism that will ensure both adherence to the sanctions regime and the continued operation of

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Bulgaria: Cengiz Holding and SOCAR move to acquire Lukoil’s Burgas refinery in $2.5 billion deal

According to media reports, Turkish conglomerate Cengiz Holding and Azerbaijan’s state-owned energy company SOCAR are moving forward with plans to acquire Lukoil’s Neftochim Burgas refinery in Bulgaria. Their joint bid was submitted more than a year ago, reportedly surpassing several international competitors. The deal, estimated at around 2.5 billion dollars, would give the two companies

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Bulgaria takes full control of Lukoil operations under new emergency law

Bulgaria’s Parliament has passed sweeping legislation granting a state-appointed special commercial administrator (SCA) full control over the Bulgarian assets of Russian oil giant Lukoil, effectively suspending shareholder authority. The administrator now has exclusive power over management decisions, share transactions, and asset sales. This marks the second major intervention involving Lukoil in two months, following an

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Region: Swiss trader Gunvor withdraws bid for Lukoil assets after U.S. opposition

Swiss commodities trader Gunvor has withdrawn its proposal to acquire the foreign assets of Russian oil giant Lukoil, following strong opposition from the U.S. Treasury, which labeled the company a “Kremlin puppet.” The move ends what would have been Gunvor’s largest acquisition to date and highlights Washington’s continued push to isolate Russia financially amid the

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Bulgaria: President vetoes amendment requiring security agency approval for Lukoil asset sales

Bulgarian President Rumen Radev has vetoed a recently adopted amendment that would have required the State Agency for National Security (SANS) to approve any sale of Lukoil’s Bulgarian assets. The amendment, passed by Parliament on October 24, stipulated that the Council of Ministers could authorize such sales only after receiving a positive assessment from SANS.

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Bulgaria confirms fuel supply security amid US sanctions on Lukoil, ensures refinery stability and job protection

Energy Minister Zhecho Stankov has confirmed that Bulgaria’s fuel supply remains fully secure despite the recent US sanctions imposed on Lukoil and its subsidiaries. He noted that the country’s key oil infrastructure—comprising the refinery, pipelines, and the Rosenets port—has been designated as strategic national and energy security assets under a government decree dating back to

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