Teboil Faces a Huge Million-Euro Claim – Foreign Company Hints at Harsh Measures
Teboil, a fuel company, is facing a claim of approximately 31 million euros from the Latvian biofuel producer GVF Bio due to issues surrounding a biodiesel delivery.
Teboil, currently undergoing company reorganization and owned by Russian oil company Lukoil, is facing a legal claim of roughly 31 million euros from Latvian company GVF Bio. This claim arises from a disputed fuel batch, in which GVF supplied biodiesel to Teboil. According to court documents, Teboil informed GVF in April 2025 that it could not accept the biodiesel batch due to lack of storage capacity.
The situation escalated after Teboil communicated to GVF, via email, that it had no available storage space for the biodiesel. It requested a pause in the fuel deliveries, putting GVF in a difficult position as the Latvian company has been forced to store the biodiesel which was meant for Teboil. This not only poses logistical challenges for GVF but also financial implications, as they must cover costs associated with maintaining this inventory that was supposed to be sold.
The legal proceedings are set against a backdrop of Teboil's financial difficulties and attempts at restructuring its operations. The outcome of the case could have significant repercussions, not only for Teboil’s viability in the market but also for the operations of GVF Bio, which relies on fulfilling contracts with clients like Teboil to maintain its business stability.