Lukoil has appointed Eugene Maniakhine to oversee restructuring of its Petrotel refinery in Romania, which entered insolvency proceedings in August 2026 after remaining offline since last year.
The process aims to preserve the refinery’s industrial assets and technical expertise so that a prolonged shutdown does not undermine its ability to restart.
A restructuring plan is being prepared under Romanian insolvency law. Creditors will be consulted and asked to vote on the proposal, with court approval required where applicable.
The refinery has been out of service for technical work and is also affected by US sanctions.
Maniakhine, a Swiss citizen with previous Lukoil experience, has served as Petrotel’s commercial manager since April. His responsibilities include developing an operating and financial programme with defined milestones and accountability.
The appointment advances the restructuring process, but a return to production will depend on the plan’s approval, operational readiness and resolution of sanctions-related constraints.
