Lukoil Refinery in Romania Resumes Operations amid Tax Evasion Probe

World » RUSSIA | October 13, 2014, Monday // 16:06| Views: | Comments: 0
Bulgaria: Lukoil Refinery in Romania Resumes Operations amid Tax Evasion Probe Photo by lukoil.ro

Lukoil's Petrotel refinery in Romania has resumed operations after a production halt imposed last week on suspicion of tax evasion.

On October 7, the Ploiesti-based refinery started preparations for the restart after the owner won a permit for the step in court, according to local news agencies, as cited by Sega daily.

On October 9, Romanian President Traian Basescu said that the refinery could be nationalized in that case in case Lukoil decided to withdraw.

Basescu’s statement came in response to threats of Lukoil to close the refinery.

On October 2, Romanian police raided the offices of Petrotel as part of an investigation for tax evasion and money laundering worth an estimated EUR 230 M.

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Tags: Lukoil, oil refinery, tax evasion, Traian Basescu, nationalization
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