Lukoil Neftochim Burgas, part of Russia’s Lukoil and operator of the sole oil refinery in Bulgaria, will switch to processing non-Russian crude, the Bulgarian government announced.
Lukoil Neftochim Burgas and the Bulgarian authorities will discuss reasonable timeframes to carry out this transition before the expiry of the EU-granted exemption for Bulgaria from the ban on seaborne Russian oil imports, the government said in a press release on Wednesday. The derogation, obtained last year, allows Bulgaria to carry on importing crude oil and petroleum products from Russia by sea until the end of 2024.
Lukoil has also pledged to fulfill requirements to contribute 33% of its profit to the state budget as part of a temporary taxation measure introduced for 2022 and 2023 for oil, gas, coal and petroleum refining companies operating in Bulgaria.
Lukoil Neftochim Burgas processes Russian Urals crude oil. In August, Bulgaria terminated the concession on the Rosenets port on the Black Sea granted to Lukoil Neftochim Burgas and transferred the port’s operations to the ministry of transport.