Pause operations: company temporarily curtailing operations while keeping return options open
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LUKOIL Neftohim Burgas, based in Burgas, Bulgaria, is the largest oil refinery in the Balkans and the largest industrial enterprise in Bulgaria. Owned by Russian oil giant LUKOIL, the refinery has the biggest contribution among the privately owned enterprises to the country's GDP and to the state budget revenues.
Pause operations: company temporarily curtailing operations while keeping return options open
Leave SuspensionOrban: Hungarian company MOL wants to buy Lukoil refinery in Bulgaria. Kazakhstan's state oil and gas company KazMunayGas has offered $1 billion to buy Lukoil Neftochim Burgas, the only oil refinery in Bulgaria, which is currently owned by the Russian company Lukoil. The Bulgarian Parliament has adopted amendments to the Investment Promotion Law, which introduce new rules governing the potential sale of Lukoil's assets in the country. According to the new provisions, any sale of Lukoil's assets will only be possible after a formal decision by the Council of Ministers and a positive opinion from the State Agency for National Security (SANS). The law stipulates that the SANS must conduct a detailed preliminary investigation and provide a written assessment before any transaction involving shares or capital of Lukoil Bulgaria EOOD, Lukoil Naftokhim Burgas AD, Lukoil Aviation Bulgaria EOOD or Staly Energy Supply OOD is approved. This also applies to any other companies related to Lukoil, whether registered in Bulgaria or abroad, when they are owned directly or indirectly by the Russian parent company.
Continues to refine Russian crude. Neftochim Burgas - the largest oil refinery in Bulgaria, abusing the exception granted to this country regarding the purchase of Russian oil, helps Russia sell oil on world markets. Lukoil refinery in Bulgaria completely abandoned Urals. Russian state energy group Lukoil is planning to sell its refinery in Bulgaria — its largest asset in the Balkans — to a Qatari-British consortium by the end of the year in a sign of Moscow’s weakening influence over energy supplies in south-east Europe.