Lukoil Overseas Atash, a Dutch-registered unit of the Russian-sanctioned energy group Lukoil, has informed Romanian authorities that it is unable to continue operations at the Trident offshore gas project in the Black Sea, citing force majeure circumstances.
The company holds an 88% interest in the Trident perimeter, while the remaining 12% is owned by state-owned gas producer Romgaz. Under Romanian petroleum legislation, force majeure refers to unforeseeable and unavoidable events that make it temporarily or permanently impossible to carry out oil and gas activities, either partially or in full.
Court records show that on 13 February, Lukoil Overseas Atash initiated legal action against the National Regulatory Authority in Mining, Petroleum and Geological Storage of Carbon Dioxide and Romgaz, seeking formal recognition of a force majeure situation.
The development comes amid heightened scrutiny of Lukoil’s operations in Romania. In December, the Romanian Government amended the petroleum law through an emergency ordinance, allowing unilateral termination of oil agreements on grounds of national security. Authorities also introduced extended state supervision over Lukoil-owned companies, citing concerns related to sanctions and market stability. The framework allows the Government to appoint a state supervisor to oversee affected local entities.
In late January, Lukoil announced an agreement to divest its international assets to US investment firm Carlyle, a transaction that includes operations in Romania.
Lukoil maintains a significant presence in Southeastern Europe. Its regional portfolio includes Bulgaria’s only refinery Lukoil Neftohim Burgas, the Petrotel refinery in Romania, as well as retail fuel networks in Bulgaria, Romania, Serbia, Croatia, Montenegro, Moldova, and North Macedonia, along with multiple petroleum storage facilities across the region.
