Surprise from Washington. Petrotel Refinery can continue to operate

The important clarification from the US authorities came this week, after more than a month of uncertainty regarding the operation of Lukoil affiliated entities in Europe.

According to a document published by the Office of Foreign Assets Control (OFAC) of the US Treasury Department, issued on November 19, one of the recent licenses issued by Washington explicitly covers the current activities of companies in the Lukoil International GmbH (LIG) group.

Among these is the Petrotel refinery in Ploiesti.

The clarification comes in the context of the fact that the parent company Lukoil was added, in October, to the list of entities sanctioned by the US.

Automatically, all the companies controlled by it came under the same regime.

The measure created a wave of confusion in several European countries, including Romania, where there was fear that the Ploiesti refinery could be forced to stop its activity due to financial and trade restrictions.

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To prevent major disruptions in the energy market, OFAC issued two general licenses on November 14, GL 128A and GL 131, which allow the continuation of certain transactions until December 13, 2025.

The document published later, FAQ 1224, shows in black and white that GL 131 does not only refer to the preparation of the sale of the LIG group, but also to the operations necessary for the normal functioning of the companies in the group during this transitional period.

In other words, according to the official US interpretation, maintenance activities, servicing, payment of suppliers or employees, technical-industrial works and any operations necessary for continuity are permitted until the end of the license.

In the case of the Petrotel refinery, this means that even scheduled works that fall within the normal operating cycle can continue – from the actual refining, to technological shutdowns and complex overhauls of the facilities.

General License 131 remains, however, temporary and with clear limitations. It aims to negotiate and sign documents for the sale of Lukoil International GmbH, but the actual transfer of ownership cannot be made without additional individual approval.

Despite these conditions, the impact for Romania is essential: the refinery can continue its activity, and the fuel supply chain is not affected. OFAC’s interpretation thus answers a question that has been hovering over the energy market in recent weeks: whether Petrotel can still operate legally in the context of US sanctions.

The official response from the US Treasury is now clear: until December 13, 2025, the refinery can operate within its usual parameters, within the limits of the issued license, as long as the transactions are related to maintaining regular operations or the orderly process of selling the company.