Balgarianovinite.com Bulgaria’s Energy Ministry has not received any formal expressions of investor interest in the assets of Lukoil Bulgaria, Energy Minister Zhecho Stankov told bTV on Sunday evening. Any letters arriving at the Ministry stem mainly from his three-week round of talks with all the major global companies aimed at securing supplies of refined products – diesel and petrol – should the refinery suspend operations, Stankov said. The ministry is receiving chiefly indications from large companies willing to deliver crude oil to Bulgaria, which he forwards to the special administrator, Rumen Spetsov. He was appointed on November 14 to oversee Russian oil company Lukoil’s four operations in Bulgaria.
Stankov identified as the top priorities safeguarding the country’s energy security and securing a temporary waiver, similar to those granted by the United Kingdom and the United States.
On October 22, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) expanded its sanctions on Russia by designating that country’s two largest oil companies, Rosneft and Lukoil. The idea is to step up economic pressure on Russia’s energy sector, which is a critical source of revenue for the Kremlin’s military operations in Ukraine. The Lukoil assets in Bulgaria include Lukoil-Bulgaria EOOD (a chain of over 200 filling stations), Lukoil Neftochim Burgas AD (the largest oil refinery in the Balkans), Lukoil Aviation Bulgaria EOOD (an aircraft refuelling operation), and Sustainable Energy Supply EOOD (marketing and trading in natural gas and other hydrocarbons).
Stankov said Sofia had to demonstrate to the sanctioning states that no funds from the Bulgarian subsidiaries of the sanctioned parent company Lukoil would be transferred abroad. He recalled that Parliament adopted legislation to ensure this.
The legislation provides a full suite of tools, with the special administrator effectively acting as shareholder. The administrator guarantees that all payments and operational management comply with the sanctions regime, Stankov said.
He added that one option envisaged by the law is an acquisition of the refinery, though such a step cannot be taken unilaterally by the special administrator. Any decision would require formal approval from the Council of Ministers, he said.
Asked about the outlook for fuel prices in the coming months, Stankov said it hinges on the geopolitical environment. Oil and natural-gas markets have been highly sensitive to military conflicts in recent years, making it difficult to forecast movements in the winter months and beyond, he said.
He stressed that as a producer of refined products, Bulgaria needs to secure the best possible prices. Regarding Parliament’s ban on diesel and aviation-fuel exports, he said this was the right thing to do before the sanctions were paused, but argued that steps should now be taken to lift the ban.
According to Stankov, removing the ban would bring additional budget revenue, as the refinery is operating at minimum capacity and is focused solely on domestic supply, processing around 10,000 tonnes a day. Asked whether the state budget was losing revenue due to the restriction, he said he prioritizes energy security over fiscal considerations, adding that Bulgarian households and businesses must be guaranteed sufficient and affordable fuel. Energy Minister: No Formal Expressions of Investor Interest in Lukoil Bulgaria Assets 2025 THE NEWS FROM BULGARIA – NEWS AGENCY 2009-2025 2025-12-01 07:28:00 Latest news World news Country news Most important news latest news most important latest of the day Justice Petar Nizamov Feathers Petar Nizamov- Feathers Justice bg iustitia.bg iustitia iusticia usticia investigation Burgas Bulgaria news news of the last hour news of the day news of today Bulgaria news The news from Bulgaria blitz news top news most important most commented latest news Boyko Borisov news weather coronavirus news news weather facebook youtube facebook instagram news today news of the last minutes news today today news news bg news leading news hot news bg news site for news all news news bg news of the last hour latest latest news bg news of today news today news today news of the last hour latest news today news bg news news 24 hours news vesti bg novini news world bird bg bivol bg bivol trud bg novini latest news today novinite bg news hello bulgaria political party coat of arms delyan peevski scandalous Bulgarian National Television Free Europe Television scandal exclusive live tv live right now tv tv online tv program bg live now tv news online tv online live court Burgas court Burgas district court Burgas court Burgas district court Burgas district court Burgas appellate court Burgas prosecutor Burgas prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Burgas district prosecutor’s office Prosecutor General Ivan Geshev Prosecutor Geshev Tsatsarov Ministry of Internal Affairs Burgas ODMR Burgas ODPR Burgas police Burgas district police Burgas prosecutor Tsatsarov SGS cases Varna court chairman of the SGS court decisions on civil cases decisions on cases Plovdiv court decision of the court decisions cases Varna court criminal cases district district court decisions work in the court SGS chairman of the SGS judges Sofia court post judges Plovdiv court Plovdiv judges Plovdiv Supreme Court Inspectorate Supreme Court Supreme Judicial Council lawyer lawyer criminal cases lawyer civil cases lawyer marriage cases lawyer administrative criminal law criminal process civil law civil process administrative law constitutional law