Lukoil plans to sell the Burgas oil refinery to a Qatari-British consortium.
Russian oil company Lukoil plans to sell an oil refinery in Bulgaria – its biggest asset in the Balkans – to a Qatari-British consortium. The Financial Times writes about it on Wednesday, November 6.
Lukoil has selected a consortium comprising Oryx Global, controlled by Qatari businessman Ghanim bin Saad al-Saad, and London-based commodity trading house DL Hudson to buy its controlling stake in Lukoil Neftohim Burgas on the Black Sea coast.
The deal is expected to be finalized by the end of 2024.
Recently, Bulgaria introduced a 60% tax on the profits of the Burgas refinery. Only after the sale of the asset will it be reduced to 15%.
The ban on Russian oil imports to the EU has complicated Lukoil’s work in Bulgaria. The company began operating in Bulgaria in October 1999, when it became the owner of a controlling stake in the Burgas oil refinery, with a capacity of 8.8 million tons per year. Lukoil also operates a network of more than 500 gas stations in Bulgaria.
Let’s remember that in March the Bulgarian government decided to abandon the use of Russian raw materials.
Source: korrespondent
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