Report: Bulgaria to mull Russian oil refining at Lukoil’s refinery

MOSCOW, Nov 14 (PRIME) – Bulgaria’s Council for National Security will hold an extraordinary meeting on Thursday to consider refining of Russian oil at Lukoil’s refinery, local newswire Dnevnik reported on Tuesday quoting the government’s press service.

The meeting, called by Prime Minister Nikolay Denkov to discuss a bill on restrictions against Russia, will be held at 8.00 a.m. local time, the newswire reported.

“Evaluation of the consequences and risks for the national security from a possible approval of the bill providing for cancellation of exemptions for Russian oil refining at the Bulgarian refinery in three days will be in focus,” Dnevnik reported.

The E.U. leaders agreed on a partial embargo on Russian oil in 2022, but Bulgaria received an exemption for the delivery of Russian oil by sea until the end of 2024. Some Bulgarian parties demanded cancellation of the exemption, which allows Lukoil’s plant to refine Russian oil, earlier in November.

“This exemption has been in focus of the political debates for over a month, and the pro-government parties disagree over it. The position of GERB (the Citizens for European Development of Bulgaria party) and DPS (the Movement for Rights and Freedoms party) is that the exemption should be cancelled immediately, but Prime Minister Nikolay Denkov said it could happen no earlier than next March, when Mariya Gabriel (GERB representative) will take the position of prime minister,” according to the newswire.

According to a report prepared for the Bulgarian government and seen by newswire Politico, the Lukoil Neftohim Burgas refinery has earned U.S. $983 million since introduction of the exemption on February 5. In late October, Lukoil said that it pays all the taxes in Bulgaria on time and complies with all the obligations to the Bulgarian budget.

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