Several foreign partners of the Russian oil company "Lukoil" have told TASS that they are temporarily reassessing their participation in joint projects with the company after the United States and the United Kingdom imposed sanctions against "Lukoil" and its subsidiaries, the Russian news agency reported, quoted by BTA.
The French "TotalEnergies", which together with "Lukoil" owns the "Zeeland" refinery (Zeeland) in the Netherlands, announced that it is operating in full compliance with international sanctions.
"TotalEnergie" is aware of "Lukoil"'s announcement of October 27, 2025, to sell its international assets. We are currently assessing the implications and exploring alternatives that can be implemented as a shareholder in the refinery to ensure continuity of operations in accordance with applicable sanctions," the company's press service said.
The "Zeeland" refinery is a joint venture in which "TotalEnergie" owns 55 percent and "Lukoil" – 45 percent through its trading subsidiary "Litasco".
The Japanese "Inpex" (Inpex), which together with "Lukoil" is developing Block 10 ("Eridu" field) in southern Iraq, is also analyzing the effects of the sanctions and their impact on the project. The company refuses to comment on its future plans, TASS specifies. "Lukoil" is the operator of the project with a 60 percent stake, while "Inpex South Iraq" owns 40 percent.
In turn, "Shell" - one of the main shareholders in the "Karachaganak" field in Kazakhstan, where "Lukoil" holds 13.5 percent, refuses to comment on the possibility of buying out the Russian company's shares against the backdrop of its plans to sell international assets.
In Bulgaria, the Russian concern holds full control over the largest refinery in the country – "Lukoil Neftochim Burgas".
BTA recalls that the US Treasury Department included "Lukoil" and its subsidiaries in a new package of sanctions earlier this month. In mid-October, the United Kingdom also added the company to its sanctions list.
The US restrictions do not apply to transactions with the Caspian Pipeline Consortium (CPC) and "Tengizchevroil", while the British sanctions additionally cover the "Karachaganak" fields in Kazakhstan and "Shah Deniz" in the Caspian Sea.
In response, "Lukoil" announced that it intends to sell its international assets due to the restrictions introduced. The company is already considering offers from potential buyers. The sale of assets of the Russian company in Bulgaria will take place only after a decision of the Council of Ministers (CM) and a positive opinion of the State Agency for National Security (SANS), the parliament decided on October 24.
"Lukoil" assets abroad
Through its subsidiary "Litasko","Lukoil" owns two refineries in Europe - – "Petrotel Lukoil" in Romania and "Lukoil Neftochim Burgas" in Bulgaria, as well as 45 percent of the "Zeeland" refinery in the Netherlands.
By the end of 2024, the company has a network of over 2,456 gas stations abroad, including in the USA and Europe. In Bulgaria, the company has a chain of over 200 own and franchised gas stations throughout the country.
"Lukoil" is also involved in significant international projects – among them are "Shah Deniz" in Azerbaijan (19.99 percent), "Karachaganak" and "Tengiz" in Kazakhstan (13.5 percent and 5 percent), the "Kanlim–Khauzak-Shadi" and "Gisar" fields in Uzbekistan, as well as "West Qurna-2" and "Eridu" in Iraq. In Abu Dhabi, the company owns 10 percent of the "Gasha" project.
In Africa, "Lukoil" is involved in projects in Egypt, Cameroon, Nigeria, Ghana and the Republic of Congo, and in Mexico – in several blocks, developed jointly with the Italian "Eni" and the Mexican "PetroBal".