TotalEnergies Acquires Remaining 45% Stake in Zeeland Refinery
TotalEnergies has bought Lukoil’s remaining 45% stake in the Zeeland refinery in the Netherlands, raising its ownership to 100%. The move secures full control of a major downstream asset, enabling TotalEnergies to capture all refining margins and integrate renewable fuel production across its European operations.
1. Transaction Overview
On February 10, 2026, TotalEnergies closed the purchase of Lukoil’s remaining 45% stake in the Zeeland refinery, increasing its ownership to 100% of the Dutch downstream facility.
2. Strategic Rationale
Full ownership allows TotalEnergies to consolidate all refining margins, streamline capital investments and accelerate its shift into renewable fuel production at the site.
3. Refinery Operations
Zeeland refinery processes crude into gasoline, diesel and renewable fuels for Northwest European markets, supporting the group’s transition to low-carbon products.
4. Market Implications
The deal reduces exposure to Russian partnerships, strengthens the group’s European downstream portfolio and could bolster earnings in the refining segment.