U.S. Sanctions Push Russia’s Oil Discounts to Highest Level Since Last Year
The discount on Russian Urals crude compared to Brent reached a one-year high of 19.40 dollars per barrel at the ports of Primorsk and Novorossiysk on 10 November
Customs Agency head Vanyo Tanov has also called for steps on behalf of the National Revenue Agency. Photo by BGNES
Customs agency head Vanyo Tanov has said authorities are now inspecting Lukoil Neftochim over accusations of price rigging hurled in a report.
Last week the Risk Management Lab, a think-tank headed by former Prime Minister (1997-2001) claimed that for 8 years Lukoil Bulgaria had been manipulating prices of the Urals crude imported for its Bulgaria-based facility in Burgas.
The company disputed this, threatening it would take Kostov to court. The latter for his part demanded that his think-tank be granted access to crude import contracts sealed by Lukoil, adding his calculations were based on data submitted to the Customs Agency.
Tanov on Monday told private national NOVA TV station an inspection had to be carried out by the National Revenue Agency (NAP) as well.
In his words, an audit will also be needed to confirm or refute suggestions by Kostov. "Only [by using] data from one of the institutions a precise conclusion cannot be made," Tanov said.
The United States has granted Bulgaria a significant exemption from its sanctions on Lukoil
Britain has introduced a temporary exemption that permits continued business with two Bulgarian subsidiaries of the sanctioned Russian oil group Lukoil
Lukoil has announced that all of its gas stations across Bulgaria are operating as usual and will continue to do so without interruption
Martin Vladimirov, director of the Geoeconomics Program at the Center for the Study of Democracy, said in an interview with the Bulgarian National Radio that the most beneficial outcome for Bulgaria would be for a strategic Western investor to acquire Luk
Energy Minister Zhecho Stankov has reassured Bulgarian citizens that the country’s fuel reserves are sufficient to cover domestic needs for several months
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