Bulgaria Negotiates for Lukoil Refinery in Burgas

Bulgaria is in negotiations with the United States Department of the Treasury, seeking to preserve the operation of its largest refinery, located in Burgas. The goal, according to information from Bloomberg, is not only to maintain production but also to achieve full control over the key facility.

Serious concerns are arising among governments in Europe and the Middle East, who are taking urgent measures to protect the foreign assets of "Lukoil". These actions come against the backdrop of recent US sanctions targeting the company. The situation underscores the complexity of global energy relations and international trade restrictions.

"There are real disputes about how to dispose of the foreign assets of "Lukoil", especially after the US Department of the Treasury rejected Gunvor's proposal to acquire them completely," pointed out Richard Bronze, head of geopolitics at the consultancy firm Energy Aspects Ltd. According to his words, quoted by Bloomberg, the question of the future of these assets is key.

Besides Bulgaria, Moldova is also in negotiations with "Lukoil", discussing the possibility of acquiring a fuel depot that supplies the airport in Chisinau. This demonstrates the comprehensive scope of the problems the company is facing.

In addition to these developments, "Lukoil" has declared force majeure at its Iraqi oil field. On November 7th, the company released all foreign employees, and at the moment only Russian and Iraqi employees are working at the site. This decision raises questions about operational stability and the potential consequences of sanctions on international energy projects.

In October, the US Department of the Treasury included the oil companies "Lukoil" and "Rosneft", along with 34 of their subsidiaries, in a new package of US sanctions. The reaction from the Russian government came immediately. Maria Zakharova, spokeswoman for the Russian Foreign Ministry, stated that the new sanctions would not create significant problems for Russia, which "has developed strong immunity" against such restrictions. This position underscores the determination of the Russian authorities to deal with the imposed measures, despite the potential economic challenges.