LUKOIL INTENDS TO EXPAND IN BULGARIA

Business | September 27, 2001, Thursday // 00:00

The Russian-registered oil company LUKoil said yesterday that it is willing to bid for the privatization of Bulgaria`s energetics, it transpired yesterday after LUKoil president Vagit Alekperov met Premier Simeon Saxe-Coburg. `We`ll increase our investments in Bulgaria,` Alekperov said further to the PM. Their meeting in the Council of Ministers office building lasted 45 minutes. Russia`s ambassador to Bulgaria Vladimir Titov and Director General of LUKoil-Bulgaria Valentin Zlatev also attended the meeting. `We talked of LUKoil`s activities in Bulgaria and of Neftochim refinery, as well as of the retailers` markets we are to expand on,` Vagit Alekperov added. The company is to invest $100 million more in Bulgaria. From 30,000 to 50,000 tons of oil products, produced in Bulgaria, will be exported to the USA per month, Alekperov elaborated.

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