Deputy PM Alexander Pulev: Lukoil's Conduct Is of Vital Importance to the Protection of Bulgarian Interests

The conduct of Lukoil is of key importance for protecting Bulgaria's national interest, Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Pulev said after a meeting between Prime Minister Rumen Radev and representatives of Litasco and Lukoil at the Council of Ministers. Deputy Prime Minister and Finance Minister Galab Donev also attended the meeting.

Alexander Pulev, Deputy Prime Minister and Minister of Economy: "Lukoil is a systemically important asset with a significant presence and an extensive network of petrol stations across the country. The company largely determines market dynamics and the retail prices of finished fuel products. From this perspective, its behaviour is essential for safeguarding Bulgaria's interests.

We have taken a number of steps of steps to address the fuel crisis in Bulgaria. We appointed a new commercial manager with proven experience. He will introduce modern management practices, high standards of accountability and an independent audit.

We have also initiated legislative changes. A number of legal and operational obstacles that had limited crude oil supplies and the competitiveness of refined fuel products will be removed."

Lukoil’s special administrator announced that from tomorrow the restrictions preventing Lukoil Neftochim Burgas from purchasing crude oil from companies registered in Switzerland will be lifted.

Evgeni Simeonov, Lukoil Special Administrator: “In 2023, Litasco granted a loan to Lukoil. As a result of that loan, restrictions were imposed in Switzerland preventing Lukoil Neftochim Burgas from purchasing crude oil from companies registered there. This created a major obstacle to the refinery’s continued operation.

“What we have managed to agree is that, starting tomorrow, Lukoil Neftochim Burgas will be able to purchase oil from all counterparties registered in Switzerland. This is an important step on the path towards stabilising the refinery.”