Lukoil's Finnish filling station network shuts down due to sanctions
Photo: Teboil

The Finnish gas station chain Teboil, owned by Russia's Lukoil, has started to run out of fuel. The US sanctions against the parent company have effectively blocked its operation. This was reported on Friday by Finnish newspaper Helsingin Sanomat.

"Our fuel stocks are running low, which means that some stations are already out of certain types of fuel, and the number of such stations is growing every day," Tony Flickt, Teboil's Director of Marketing and Communications, told HS.

According to him, no new fuel supplies are currently expected.

Flikt confirmed that the company is having difficulties not only with fuel supplies, but also with financial settlements.

Formally, Teboil has until November 21 to cut ties with Lukoil. However, its key supplier of petroleum products, Neste, as well as banks, have already stopped cooperating with the company.

Teboil's situation worsened after Gunvor, a potential buyer of Lukoil's sanctioned international assets, , backed out of the deal .

Teboil gas stations are owned by Finnish entrepreneurs, although the network is owned by Russians. The company is currently working to separate the retailers' operations from Teboil so that they can operate completely independently, a Teboil spokesperson said

Answering a question about the future of the brand and the possibility of its preservation in the event of a crisis, Tony Flickt said that this issue is not relevant now.

Teboil operates a network of more than 400 filling stations, which is approximately one fifth of all filling stations in Finland. Lukoil bought the Teboil filling station chain in 2005. In 2022, the chain started operating in Russia .