In a televised interview on Monday, Economy Minister Alexander Poulev said that according to an expert position of the Commission for Protection of Competition (CPC), the former special commercial administrator of Lukoil’s operations in Bulgaria, Roumen Spetsov, exerted price pressure at the start of 2026. That led to a very serious liquidity financial crisis in the company’s structures, Poulev told Bulgarian National Television.
The Minister said further that the policy of working with a very low return had resulted in many financial difficulties for Lukoil and had created a serious shock in the system for operators of filling stations, who were forced to work at a loss for a short period of time. Poulev described this approach as non-sustainable, populist and set as a political trap for the next special administrator. Such a practice could have continued for no more than two to three months before leading the refinery to bankruptcy, he argued.
Poulev’s Ministry praises the CPC’s urgent check for transparency and pricing, he noted. The Special Commercial Administrator will provide full accounting and financial information.
Regarding the decision to lift the ban on the export of petroleum products, Minister Poulev said that it was intended to help the entire industry maintain its competitiveness, rather than as a special privilege for a specific producer. He explained that due to the Lukoil refinery’s increased operating capacity, diesel stocks have accumulated, tying up over EUR 200 million in working capital. According to the Minister, since the domestic market has limited consumption capacity, exports to third countries allow for the release of this liquidity. The Minister further commented that the measure has no impact on final pump prices and is intended solely to ensure liquidity and the continuity of operations.
When asked why the 33% tax on excess profits does not apply to the refinery, Poulev replied that the company is not in a position to generate excess profits, as it operates on a minimal margin of return and is overcoming the inherited liquidity crisis.
The Minister of Economy emphasized that the price surge is a consequence of global geopolitical processes and noted that the State is providing packages of measures for the most vulnerable groups and the key sectors of industry.
Poulev noted that Bulgaria is in an excellent position with regard to the EU institutions. Regarding the International Monetary Fund’s mission to Bulgaria, he said that the country is expected to receive a balanced and constructive assessment from the Fund in light of inflation.
2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-09-28 18:48:46
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BULGARIA NEWS – NEWS AGENCY 2009–2026 2026-09-28 18:48:46