Balgarianovinite.com Lukoil Neftochim Burgas has been gradually increasing fuel processing since June after operating at low levels at the beginning of the year, Lukoil’s special commercial administrator Evgeni Simeonov said at a meeting of Parliament’s Economic Policy, Investment and Industry Committee, where he presented a report on his activities.
The company’s profit in July was its highest in the past five or six years, Simeonov said. As long as Lukoil Neftochim Burgas remains operational, there is no risk of fuel shortages in Bulgaria, he said.
Simeonov said that when he took office in early June, an analysis of the company’s administration and human resources identified shortages and problems that are now being addressed.
A technical assessment of the refinery was also carried out to determine whether it would need to shut down for repairs. Simeonov said no such shutdown would be necessary before 2028.
He said he had inherited a difficult situation when he took office, but the problems had since been overcome. Oil deliveries with deferred payments were negotiated, allowing the company to raise sufficient funds to meet its payments, he said.
The refinery buys the most economically advantageous crude oil and exports at the highest possible prices, helping improve the company’s financial position, Simeonov said. He attributed high fuel prices primarily to a shortage of finished refined products, adding that the high prices were due to external factors.
A committee has been established at the refinery to vet all counterparties, Simeonov said, stressing that sanctioned individuals cannot become potential customers or counterparties of Lukoil Neftochim Burgas.
Simeonov urged MPs to be cautious in their statements about the company’s derogation from sanctions. Without the derogation, around 5,000 people would lose their jobs, more than 120 petrol stations would close, and the entire logistics network would stop operating, with catastrophic consequences for the country, he warned.
Lukoil Bulgaria is in good financial, material and technical condition and has sufficient human resources, Simeonov said.
Lukoil Neftochim Burgas Gradually Increases Fuel Output 2026 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2026-08-26 14:01:28
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