Historic breakthrough for Lukoil Neftohim Burgas
At yesterday's government meeting, Prime Minister Rumen Radev announced a critically important agreement reached with representatives of Litasco. The decision puts an end to the serious difficulties faced by the Burgas refinery.
Lifting the seizure on crude oil supplies is of crucial importance for our national security and the normal functioning of the economy.
What were the problems so far?
- Technological difficulties: Forced operation with heavy types of crude oil led to a risk of damage to the installations.
- Economic losses: Reduced production volume and a drastic increase in the cost of products.
- Risk for the future: The seizure imposed at the end of last year put the operation of Lukoil Neftohim to a serious test.
The path to an out-of-court settlement
Deputy Prime Minister Alexander Pulev confirmed that this is the first step towards a final out-of-court settlement. The negotiations included the management of Litasco, Lukoil, and key ministers from the cabinet. The lifting of the seizure is expected to normalize the work process and stabilize fuel prices in the country.