Yle: Lukoil’s Finnish fuel station chain Teboil files for bankruptcy

Finland’s Teboil petrol station chain, owned by Russia’s Lukoil, is facing fuel shortages after U.S. sanctions on its parent company disrupted its business operations.

The company behind the station, Joroisten Etappi Oy, submitted its bankruptcy application to the North Savo District Court earlier this week, Caliber.Az reports, citing Yle.

The company, established in 1990, has been operating the local Teboil station for over three decades. Managing Director Pekka Niskanen declined to comment further on the company’s financial situation when contacted by Yle.

According to financial records, Joroisten Etappi reported a turnover of €756,000 last year, posting a loss of around €22,000 for the financial period. The company’s revenue has declined in recent years, down from €988,000 in 2021.

A Yle reporter visiting the Joroisten Teboil station on the morning of November 7 noted that the café remained open and petrol sales continued, although diesel was not available.

By Aghakazim Guliyev