Bulgarian FinMin: Meeting with Lukoil Was Futile

Business » ENERGY | July 28, 2011, Thursday // 18:32
Bulgarian FinMin: Meeting with Lukoil Was Futile: Bulgarian FinMin: Meeting with Lukoil Was Futile Bulgaria's Finance Minister, Simeon Djankov, is adamant there isn't any threat of a fuel crisis in the country over the closure of the only refinery, owned by Lukoil Bulgaria. Photo by BGNES

Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, explained the cancellation of his Thursday meeting with the Lukoil Bulgaria CEO, Valentin Zlatev, with the futility of holding such talks.

Djankov pointed out the two have had a phone conversation and there was nothing more to say to each other, stressing Lukoil now must only abide by the law.

The meeting was announced Wednesday by Prime Minister, Boyko Borisov, while Zlatev said during a special press conference Thursday he had no idea why is was cancelled.

The Finance Minister further reiterated there isn't any threat of a fuel crisis in the country over the closure of the only refinery, owned by Lukoil Bulgaria. He said the country can survive without Lukoil for 160 days since the reserves cover the entire consumption on the market for 80 days while Lukoil provides about 50% of the supplies.

Djankov said he had information other companies are also redirecting gasoline towards Bulgaria.

"A license has been revoked. We want to see how much time it will take them to install the new electronic measuring devices. We have the order. Customs agents are currently in the refinery taking inventory," the Minister stated.

Djankov further refuted reports the refinery would have been closed anyhow for planned renovations, labeling them as rumors, pointing out the next renovation and repair works are scheduled for February 2013.

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Tags: Sergey Stanishev, Simeon Djankov, Valentin Zlatev, Lukoil, Bulgaria, Lukoil Neftochim, refinery, Vanyo Tanov, Customs Agency, Customs Agency head, excise duty, VAT, Lukoil Bulgaria, refinery, Boyko Borisov, Valentin Zlatev, Lukoil, Customs Agency, Vanyo Tanov, rule, license, excise, Traicho Traikov storage, fuel price hike

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