Lukoil Decries Political Storm as Bulgaria Business Sale Weighed
- Lukoil may sell region’s biggest refinery, 220 gas stations
- Bulgaria to end Russia oil import, export of refinery products
The Neftohim refinery in Bulgaria.
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Lukoil PJSC said it’s considering the sale of southeastern Europe’s biggest refinery and other assets in Bulgaria as the authorities seek to reduce the Balkan nation’s energy dependence on Russia.
Bulgarian lawmakers earlier this year approved a motion to gradually curtail imports of Russian crude, bringing the country into line with other European Union members. The ruling coalition this month unveiled plans to end those imports in March, forcing Neftohim, Lukoil’s refinery on the Black Sea coast, to look for alternative fuel sources.