Bulgaria Nears Completion of Leva Withdrawal as 81% Taken Out of Circulation
As of February 6, 2026, Bulgaria continues to make steady progress in withdrawing the national currency, the leva, from circulation.
Bulgaria's Lukoil Faces Production Shutdown Threat Due to Export Quota Shift
- Tweet
Send to Kindle
Lukoil Neftohim Burgas has raised concerns over the announced agreement between ruling parties regarding the derogation for importing Russian oil. The refinery warns that the suspension of quotas for exporting oil products could force a halt in production, leading to logistical risks and a potential fuel supply crisis in Bulgaria.
The agreement, set to eliminate quotas for oil product exports from January 1, 2024, and cease the derogation from March 1, poses a significant threat to Lukoil's operations. The company highlights the risk of overflowing warehouses and the possibility of a forced shutdown of production, which could jeopardize the country's fuel supply.
In response, Lukoil calls for urgent dialogue with governmental institutions to find a viable solution that mitigates risks without disrupting production.
However, Finance Minister Assen Vassilev has contested Lukoil's claims regarding the flow of funds to Russia through the refinery. He clarified that the profit tax expected from Lukoil amounts to approximately BGN 400 million, emphasizing that a collaborative solution is necessary to safeguard the interests of both the company and Bulgaria's economy.
This brewing concern underscores the urgency of finding a balanced resolution to prevent potential disruptions in the oil industry.
Related Articles:
Sofia Property Prices Surge: €500 per Square Metre Increase Shocks Buyers
Property values in Sofia have surged by approximately €500 per square metre over the past year, according to data from one of Bulgaria’s largest real estate agencies. Across the country’s main cities, housing costs climbed by 20% in the final quarter of 2
Bulgaria Faces Variable Weather on Wednesday, Snow Expected in Mountain Areas
According to the National Institute of Meteorology and Hydrology, Wednesday, February 11, will bring varied weather conditions across the country.
Bulgarian Central Bank Reports New 10-Year Government Debt Issue Worth €150 Million
Bulgaria has taken on new debt amounting to 150 million euros through the issuance of government securities, according to results published on the Bulgarian National Bank (BNB) website.
The Petrohan Case in Bulgaria: Prosecutors Outline Two Murders and One Suicide
The Prosecutor’s Office has released further details regarding the investigation into the deaths of six individuals connected to the incidents at the Petrohan lodge and under Okolchitsa Peak
Crime | February 10, 2026, Tuesday // 16:29
Bulgaria: Industrial Production Climbs Slightly, Construction Contracts in December 2025
In December 2025, Bulgaria’s industrial sector showed modest growth following two consecutive months of decline, yet on an annual basis, production fell for the 13th month in a row.
Bulgaria’s Black Sea Gas Hunt: Han Asparuh Well Comes Up Dry, Next Drill Planned
The initial drilling effort in the Han Asparuh block (offshore oil and gas exploration area) of the Bulgarian Black Sea, named Vineh-1, did not uncover significant natural gas reserves, according to Offshore-energy
Bulgaria Launches Sweeping Inspections of Energy Companies Over Rising Electricity Bills
Starting today, the Ministry of Energy and the Energy Regulatory Commission (EKVR) are conducting extraordinary inspections of electricity distribution companies and end suppliers,
Bulgaria’s Fuel Market Stable, but Gray Sector and Export Ban Raise Concerns
In Bulgaria, fuel prices remain largely unchanged, with the international oil market continuing to respond to tensions between the United States and Iran.
EU Renewable Energy Use Grows, While Bulgaria Sees Significant Decline
Bulgaria is among the EU countries that experienced a notable drop in the use of renewable energy for heating and cooling in 2024, with the share declining by 1.9 percentage points compared to the previous year.
Lukoil Agrees to Sell Foreign Assets to U.S. Firm Carlyle Group in Twenty-Two Billion Dollar Deal
Russia’s oil giant Lukoil, which is under U.
Bulgaria, US Set Up Joint Energy Team for Key Strategic Projects
Bulgaria and the United States have agreed to step up cooperation in the energy sector by setting up a joint expert structure to work on priority projects of shared strategic importance.
