Lukoil closes refinery in Romania after facility placed under distraint

A Russian subsidiary in Romania has decided to close down a refinery it operates in Ploiesti after prosecutors levied a distraint on its raw material stocked in tanks and pipes amid an investigation concerning allegations of tax evasion which had resulted in 230 million euro damages.

Petrotel, the refinery operated by Lukoil, notified the Environment Agency of the Prahova County that it would halt operations, an “unscheduled” decision, as it put it. The agency said today the notification came on Friday and on the same day Lukoil started switching off technological installations.

On October 6, a report sent to the Romanian Stock Exchange confirmed authorities placed Petrotel’s raw material stocks under distraint.

For the full story, please click here.