All three refineries in Romania secured non-Russian oil

By bne IntelliNews December 6, 2022

Petrotel, the refinery controlled in Romania by the Russian group Lukoil, has been processing crude oil of non-Russian origin since December 5, Romanian Minister of Energy Virgil Popescu said, quoted by Economica.net

Europe and the US started enforcing on December 5 two of the toughest measures aimed at curbing Russia’s income from oil, the principal source of cash used to fund its nearly 10-month-old war in Ukraine: a price cap initiative led by the United States sets a top price of $60 per barrel for Russian crude and an embargo that prohibits European Union countries from buying most Russian crude.  

"Lukoil assured us that they have alternative sources of crude oil and petroleum products and that there will be no problems in Romania,” Popescu pointed out.

OMV Petrom and Rompetrol Rafinare, owned by KazMunayGaz, have already switched to non-Russian oil in advance.

In the neighbouring countries, Lukoil’s refinery in Bulgaria (which used to deliver petroleum products in Romania) is processing crude oil of Russian origin. But it is not allowed by the Bulgarian authorities to export its products to other EU countries or any other third country.

 

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