Bulgarian Govt Invites 'Bad Guys' Lukoil to Keep Its Fuel Reserves

Business » ENERGY | September 15, 2011, Thursday // 17:25
Bulgaria: Bulgarian Govt Invites 'Bad Guys' Lukoil to Keep Its Fuel Reserves Lukoil Bulgaria's CEO Valentin Zlatev. Photo by BGNES

The Bulgarian government has invited the Lukoil Neftochim refinery to keep some additional 3,600 tonnes of jet fuel for its state reserves, show procurement records.

This move comes just as the Bulgarian state and Lukoil are engaged in a protracted legal dispute after end of July the government cancelled Lukoil's license for breach of tax regulations.

Officers from Bulgaria's State Reserve Agency explained to Dnevnik.bg that the invitation to Lukoil was necessitated by the fact that the Agency does not own adequate tanks, and that as a matter of fact the company is the only one in Bulgaria to have such facilities available.

Among the facts that transpired in the Lukoil controversy over the summer was that in case that the refinery - the largest in the country - stops working, there will be a grave shortage of jet fuel in the country.

This raised suspicions that Lukoil occupies a monopoly position in the jet fuel segment of the market, upon which a probe was launched by Bulgaria's competition watchdog agency.

Energy » Be a reporter: Write and send your article
Tags: license, Neftochim, monopoly, jet fuel, Lukoil, state reserve

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria