Teboil service stations left without fuel for six months as owners await Lukoil sale

Fuel distribution at Teboil service stations in Finland has been suspended for nearly six months, leaving station operators in limbo as they await a potential sale of the chain’s Russian parent company, Yle reports.

Many station owners, particularly those operating on Teboil-owned properties, have been unable to switch to rival brands due to contractual restrictions. The disruption stems from US sanctions imposed last year on Teboil’s parent company, Russian energy giant Lukoil, which led Finnish banks to halt the chain’s payment transactions in October.

Heidi Räsänen, who runs Teboil stations in Kuopio and Suonenjoki, continues to cover all operating costs without revenue from fuel sales. While her locations remain open for lunch services, car maintenance, and washing, customers frequently ask about the lack of fuel. “We’re just waiting for a resolution,” Räsänen said, noting that current operations remain unsustainable long-term.

The potential sale of Lukoil’s stake in Teboil—reported in Finnish media over winter—remains unconfirmed. Teboil’s communications director declined to comment on the matter, while industry association Liikennepalvelukauppiaat described any transaction as “extremely challenging” under sanctions. Key hurdles include how funds could be transferred: whether payments would be frozen in escrow or reach Lukoil directly.

Some owners, like Raimo Hiltunen in Kovero, have successfully transitioned to competitors. Hiltunen terminated his Teboil contract after securing a fuel supply deal with Finnish cooperative SEO, a move possible only because he owned his station’s property and infrastructure outright. “I was lucky—I could walk away,” he said, though he noted higher financial risks under SEO’s model, where owners purchase and price fuel independently.

Teboil previously held roughly 20% of Finland’s fuel market, competing with Neste, ABC, and St1. Its struggles have benefited rivals: SEO, a cooperative of independent retailers, has doubled its market share to 6% since Teboil’s payment freeze, expanding its network to 260 stations.

Other operators, like Päivi Voutilainen in Tuusniemi, remain stuck. Her station’s café stays open, but fuel sales—once 70% of revenue—are indefinitely halted. “We’re just waiting,” she said.