TotalEnergies takes full ownership of Zeeland refinery after buying out Lukoil stake
TotalEnergies has reportedly acquired the remaining 45 percent stake in the Zeeland refinery from Lukoil. The move follows US sanctions on the Russian firm.
Insights:
TotalEnergies SE has completed the re-acquisition of the remaining 45% stake in the Zeeland refinery from Lukoil, taking full ownership of the facility located in the Netherlands 
NL. The transaction, finalized today on February 10, 2026, consolidates operating control and commercial links for the 180,000 barrels-per-day plant. This move follows a period of operational uncertainty triggered by geopolitical pressures affecting the European energy sector.
NL. The transaction, finalized today on February 10, 2026, consolidates operating control and commercial links for the 180,000 barrels-per-day plant. This move follows a period of operational uncertainty triggered by geopolitical pressures affecting the European energy sector.The deal was prompted by sanctions issued by the U.S. Treasury in the United States 
US last October. These sanctions led Lukoil, a major energy firm from Russia 
RU, to put its international assets up for sale after concerns arose that oil suppliers would be unwilling to maintain business relationships with the refinery. The Dutch ministry for climate and green growth has monitored the transition to ensure regional energy security, particularly as the refinery plays a vital role in processing capacity.
US last October. These sanctions led Lukoil, a major energy firm from Russia RU, to put its international assets up for sale after concerns arose that oil suppliers would be unwilling to maintain business relationships with the refinery. The Dutch ministry for climate and green growth has monitored the transition to ensure regional energy security, particularly as the refinery plays a vital role in processing capacity.
