Bulgaria Urged to Purchase Lukoil Refinery to Prevent Russian Monopoly
Energy experts and economists have urged the Bulgarian government to consider purchasing the Lukoil refinery in Burgas
Speculations Mount as SOCAR Emerges as Likely Buyer of Lukoil Neftohim Burgas Refinery
- Tweet
Send to Kindle
Speculations are rife about the potential buyer for Lukoil Neftohim Burgas refinery, with Azerbaijani state oil company SOCAR emerging as the primary contender, as reported by Trud newspaper.
Recent developments suggest SOCAR's interest in acquiring the refinery. In April 2023, SOCAR inaugurated an office in Sofia in the presence of the Bulgarian and Azerbaijani presidents, Rumen Radev and Ilham Aliyev. Concurrently, SOCAR Trading Gas and Power obtained a license from the Commission for Energy and Water Regulation to trade natural gas in Bulgaria.
Economist Evgeny Kanev and Delyan Dobrev, GERB's deputy and energy commission chair, have backed SOCAR as the potential buyer, indicating the geographical suitability of Burgas' production and logistics for raw material supply.
Industry experts highlight interest in the refinery from entities within the Black Sea region. SOCAR, known for its significant presence in Turkey with a substantial refinery, and Kazakhstan's KazMunayGas, the owner of Romanian Rompetrol, are among the speculated interested parties, as per Capital reports.
Notably, SOCAR's recent agreement with Lukoil involves a .5 billion loan to SOCAR and supplying the STAR oil refinery in Turkey with up to 200,000 barrels per day of Russian crude oil, according to Reuters.
Related Articles:
Azerbaijan Restores Natural Gas Supplies to Bulgaria After Brief Suspension
Azerbaijan has resumed natural gas supplies to Bulgaria under its long-term contract with Bulgargaz, the Bulgarian company announced
Azerbaijan Temporarily Suspends Gas Supplies to Bulgaria
Azerbaijan has temporarily suspended natural gas supplies to Bulgaria
Kazakh National Company Bids for Russian-Owned Lukoil Neftokhim Refinery in Bulgaria
KazMunayGas, the state-owned oil company of Kazakhstan, is reportedly taking part in a tender to acquire the Bulgarian-based refinery of Russian oil giant Lukoil
Azerbaijan Demands Accountability After Russian Air Defense Shoots Down Civilian Plane
Azerbaijan has demanded an apology from Russia following the downing of an Azerbaijani civilian passenger plane, as confirmed by new information
Azerbaijan Airlines Plane Crashes Near Aktau, Survivors Reported
A passenger plane operated by Azerbaijan Airlines crashed near the Kazakhstani city of Aktau, the Kazakh Transport Ministry reported on Wednesday
World | December 25, 2024, Wednesday // 10:16
Bulgaria Shields Businesses from High Electricity Costs Until March
The Bulgarian government has announced a program to compensate businesses and non-household electricity subscribers for high energy costs until the end of March
Bulgaria Urged to Purchase Lukoil Refinery to Prevent Russian Monopoly
Energy experts and economists have urged the Bulgarian government to consider purchasing the Lukoil refinery in Burgas
Azerbaijan Restores Natural Gas Supplies to Bulgaria After Brief Suspension
Azerbaijan has resumed natural gas supplies to Bulgaria under its long-term contract with Bulgargaz, the Bulgarian company announced
Ukraine Approves Purchase of Belene NPP Reactors from Bulgaria
The Ukrainian parliament has approved the purchase of two Russian nuclear reactors that were originally intended for the Belene Nuclear Power Plant (NPP) in Bulgaria
Bulgaria Faces Record Low Electricity Exports Amidst Slow Energy Sector Reforms
In 2024, Bulgaria’s electricity sector faced significant challenges, with a sharp decline in exports and a rise in domestic consumption
Bulgarian Businesses Sound Alarm Over Soaring Electricity Prices, Demand European Compensation
Businesses in Bulgaria remain on high alert, described as "code yellow," due to persistently high electricity prices
