Exclusive: TotalEnergies takes over 100% of Zeeland refinery from co-owner Lukoil, sources say
Reuters·2026-02-10 20:14

Core Viewpoint - TotalEnergies has regained full ownership of the Zeeland refinery in the Netherlands by acquiring the remaining 45% stake from Russia's Lukoil, indicating a strategic move to consolidate its operations in the region [1] Company Summary - TotalEnergies has successfully re-acquired the 45% stake in the Zeeland refinery, which enhances its control over the facility and aligns with its broader strategic objectives [1] - The acquisition reflects TotalEnergies' commitment to strengthening its position in the European refining market [1] Industry Summary - The move by TotalEnergies to take full ownership of the Zeeland refinery may signal a trend of consolidation within the oil refining sector, particularly in response to geopolitical factors affecting ownership structures [1] - This acquisition could impact the competitive landscape in the European oil market, as companies reassess their positions amid changing dynamics [1]