© VELKO ANGELOV © DIARY
Lukoil headquarters in Sofia
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Lukoil is starting work on revising the strategy of the group’s enterprises in Bulgaria due to a significant change in conditions. This was announced on Tuesday by the private oil corporation.
“Different options will be analyzed with the participation of international consultants, including the sale of the business,” the announcement said.
It is clear from it that by “change of conditions” the company means the termination from March 2024 of the derogation for the Lukoil-Neftohim refinery from the European ban on the import of Russian oil, its taxation with an additional profit tax and the need for modernization of the plant to be able to operate with non-Russian oil.
Asen Vasilev stated that “Lukoil Neftohim” is spreading fear, it can export non-Russian oil products
“The revision of the strategy is a consequence of the adoption by the state authorities of Bulgaria of discriminatory laws and other unfair, tendentious political decisions”, which, according to the announcement, “have nothing to do with the civilized regulation of big business or with the increase of the revenue part of the country’s budget”. .
“The artificially inflated political storm around an enterprise of a large international trade structure, which is not under the sanctions of the European Union and the USA and fulfills all obligations to the state and employees, harms the business of the Lukoil company, the investment climate of Bulgaria and inexorably destroys the image of the republic in the eyes of the whole world,” said the announcement, which ended with a note that the Bulgarian authorities would be informed of the actions the company would take with respect to its Bulgarian assets.
The Russian company entered Bulgaria in 1999 by buying the Burgas refinery “Neftohim”. Lukoil claims to have invested 3.4 billion dollars in it and bought 220 gas stations and 9 oil depots in Bulgaria and owns a shipping and aviation bunkering business.
According to the company’s estimates, 500 million euros should be invested in “Lukoil-Neftohim” so that it can process lighter non-Russian varieties of oil.