Lukoil Issues Statement on Its Assets in Bulgaria: The External Administrator Should Act in Strict Compliance With the Law

Russian energy giant Lukoil on November 19 issued a statement on its assets in Bulgaria and appointment of external adminostrator.

The company expressed hope that the external administrator will act in strict compliance with applicable law to ensure the continuity of operations, including maintaining the normal functioning of these entities to supply the Bulgarian market with fuel, pay taxes, and uphold the high standards of social policy towards refinery employees that have been established and maintained by Lukoil.

Lukoil is taking all necessary steps to complete the sale of the refinery, the filling stations network and other assets in Bulgaria to a new owner and expects that the activities of the external administrator will not impede this process.

The statement also says that the company reserves the right to seek judicial remedies to protect its rights and legitimate interests in the event of their violation.​

In the statement, Lukoil recalled that for more than 25 years of operations in Bulgaria, the Company has been the country's largest investor and fuel supplier, a major employer and taxpayer, has engaged constructively with the local community, and has maintained high standards of industrial and environmental safety. Since 1999, its cumulative investments have amounted to more than USD 4.5 billion.