Lukoil to invest USD 25 billion in Bulgaria's oil refinery

The Russian oil giant Lukoil plans to invest USD 25 million in Bulgaria's largest oil refinery over the next ten years, the Bulgarian news agency novinite.com reports.

Lukoil Vice President Vagit Alekperov said that an agreement on the construction of the largest hydrocracking unit in eastern Europe would be signed with the French company Tecnip in late September.

- In that way, the refinery Lukoil Neftochim will become the most modern refinery in eastern Europe - Alekperov said in a press release.

By the way, the refinery was shortly out of operation in late July because the Bulgarian Customs accused it of disrespecting the regulations and took away the license to store fuel from the refinery and halted the sales. The Administrative Court in Sofia then put the refinery back in operation, but the Bulgarian Customs can still submit an appeal to the Supreme Administrative Court.

Lukoil Srbija a.d. Beograd

Lukoil Company Moscow

refinery in Bulgaria

Tecnip

Vagit Alekperov

Lukoil Neftochim

Administrative Court in Sofia