Bulgaria PM Flexes Muscles as Lukoil Court Battle Looms

Business » ENERGY | August 1, 2011, Monday // 21:24
Bulgaria: Bulgaria PM Flexes Muscles as Lukoil Court Battle Looms Photo by Sofia Photo Agency

Bulgaria's prime minister has made it clear he is not scared by the prospect of being taken to court by the Russian oil giant Lukoil after customs authorities revoked the licenses of its refinery here.

"There are laws and they should be abided by," Boyko Borisov said on Monday, asked to comment the prospect of the company seeking to be paid damages after it was forced to halt its operations in Bulgaria.

Borisov refused to comment Monday's ruling of Sofia Administrative Court to overturn the customs office decision to strip Lukoil local plant of its fuel depot licenses.

"I am not in the habit of making comments on the courts' decisions," he said.

Borisov confirmed that the customs office will take the opportunity to appeal the decision, which should be done within seven days.

Bulgaria's Neftochim, the only oil refinery in the country, controlled by Russia's giant Lukoil, started on Wednesday to reduce crude processing and effectively stopped production after the customs office revoked its licenses.

Vanyo Tanov, head of the customs office, has explained that the refinery cannot operate without the required electronic measuring devices Lukoil failed to install in its storage facilities, and can deal only with the fuels already outside the plant.

Valentin Zlatev, General Director of Lukoil Bulgaria, has often been described as "the country's back seat ruler" and "the oil oligarch, who pulls the strings of the government".

He is suspected of being the man behind Bulgaria's Prime Minister Boyko Borisov.

Zlatev has strongly denied the allegations.

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Tags: Bulgaria, Neftochim, Simeon Djankov, refinery, oil, Boiko Borisov, Valentin Zlatev, Lukoil, Customs Agency, Vanyo Tanov, rule, license, excise storage, Luk

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