Lukoil says not in talks to sell refinery in Bulgaria

MOSCOW, Oct 19 (PRIME) -- Lukoil's foreign trading arm Litasco SA has received no offers to sell its stake in refinery in Bulgaria Lukoil Neftohim Burgas and is not in negotiations on the matter, the company said in a statement on Thursday.

"Litasco SA, the main shareholder of Lukoil Neftohim Burgas AD, has not received offers to sell the refinery. This is why Litasco SA is not in negotiations on the matter," the company said.

Bulgaria has raised the profit tax for refineries to 60%. The Financial Times said the tax would fall to 15% after the sale of the plant, but a 500 million euro upgrade is needed to prepare it for effective refining of a lighter non-Russian oil.

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