From Tomorrow, Lukoil Neftohim Burgas will be Able to Purchase Oil from all Counterparties Registered in Switzerland

Today's decision is part of the government's measures to manage the fuel crisis in Bulgaria in the interests of Bulgarian citizens, stated Deputy Prime Minister Alexander Poulev

The restrictions imposed by Litasco are being lifted, and as of tomorrow Lukoil Neftohim Burgas will be able to purchase oil from all the necessary counterparties registered in Switzerland. This is a major victory on the path we must walk together to stabilize the refinery's operations. This was announced by the State's Special Commercial Administrator at the company, Evgeni Simeonov, following Prime Minister Rumen Radev's meeting with representatives of Litasco and Lukoil management. Deputy Prime Ministers Galab Donev and Alexander Poulev also participated in the discussions at the Council of Ministers. The Special Commercial Administrator recalled the reason for the restrictions, namely, a loan extended by Litasco to Lukoil Neftohim Burgas in 2023, which subsequently became subject to early repayment. In connection with that loan, restrictions were imposed preventing the refinery from purchasing crude oil from companies registered in Switzerland, a situation that had created serious difficulties for the refinery's normal operations and its ability to secure the required grades of crude oil.

"Today we held a highly constructive meeting with representatives of Litasco and achieved a major success for the operations of the companies that form part of Lukoil's assets on Bulgarian territory," Deputy Prime Minister Alexander Poulev said, adding that a number of legal and operational obstacles that had significantly restricted crude oil supplies and the price competitiveness of end products are being removed. The Deputy Prime Minister also highlighted the significance of Lukoil as a structurally important asset for the Bulgarian economy - with a substantial presence and an extensive retail network of petrol stations across the country. "The company largely determines market dynamics and retail fuel prices. From this perspective, its conduct is of considerable importance for the protection of Bulgarian interests," Poulev stressed. The Deputy Prime Minister also emphasized support for Bulgarian citizens and consumers as one of the Cabinet's leading priorities. "We are protecting private property, which is inviolable, while preventing disruptions to the fuel market. We will not allow the interests of Bulgarian consumers to be harmed," Poulev stated. He noted that this decision forms part of the Government's measures to manage the fuel crisis in Bulgaria in the interests of its citizens. He was unequivocal that consumer protection remains a leading priority.

Deputy Prime Minister Alexander Poulev also underscored the aim of reaching a lasting resolution through dialogue, including an out-of-court settlement that protects the interests of both parties. "This was a critical meeting. For the first time, we are demonstrating a stance that protects competition and safeguards private property, and we have a subsequent commitment to reach, through active dialogue, the full resolution of the arbitration dispute," Poulev added.