Lukoil Bulgaria Announces That Its Companies Continue to Operate As Usual

Lukoil Bulgaria says its companies are operating as usual, with no cause for concern, following threats of arbitration from the Swiss-registered firm Litasco over the appointment of a special commercial manager. Litasco owns part of Lukoil’s assets in Bulgaria.

Litasco cites a bilateral agreement between Bulgaria and Switzerland, arguing that once it assumes management of Lukoil’s assets in Bulgaria, the state should compensate the owner.

Lukoil Bulgaria responded that the arbitration notification to the government does not affect the operation of its companies in Bulgaria and emphasised that there is no reason for concern regarding fuel availability or market prices.

• Lukoil Group's Litasco Threatens Bulgaria with Arbitration

• Rumen Spetsov Appointed Special Commercial Administrator of the Lukoil group companies in Bulgaria