Bulgarian Finance Minister Assures No Fuel Shortage Amid Lukoil Refinery Sale Consideration

Business » ENERGY | December 5, 2023, Tuesday // 14:41
Bulgaria: Bulgarian Finance Minister Assures No Fuel Shortage Amid Lukoil Refinery Sale Consideration Asen Vassilev

Bulgaria's Finance Minister, Asen Vassilev, addressed concerns about potential fuel shortages following "Lukoil's" deliberations on selling its business in the country. The reassurance came during Vassilev's visit to the "Capitan Andreevo" border crossing alongside European Commissioner Mareid McGuinness, as reported by BTA.

Vassilev clarified that the ministry had received prior indications of Lukoil's contemplation of selling its Burgas-based refinery. Emphasizing the company's prerogative to make independent decisions about its assets and operations, he highlighted the need for state representation to secure the refinery's continuity, preferably with a strategic investor, ensuring Bulgaria's interests remain safeguarded.

The Russian oil giant's announcement today detailed their strategic revision in Bulgaria due to what they termed "significant changes in conditions." These conditions encompassed the expiration of Lukoil Neftohim refinery's exemption from the EU ban on Russian oil imports, additional profit taxation, and the imperative modernization to process non-Russian oil.

Vassilev's assertion about Bulgaria's fuel stability amid these developments alleviated concerns regarding potential disruptions in the supply chain.

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Tags: Vassilev, Lukoil, fuel, Bulgaria

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