Lukoil Bulgaria initiates international audit of former management

Lukoil Bulgaria has signed a contract with an international financial auditing firm to investigate the actions of former Special Commercial Manager Rumen Spepov. Current manager Evgeni Simeonov stated that a preliminary analysis of the previous management revealed actions described as ‘illogical’.

Addressing fuel security, Simeonov dismissed claims that Bulgaria could face diesel shortages in late 2024. He confirmed that the Burgas refinery produces more than the domestic market requires and that crude oil supplies are secured through the end of December, ensuring production into early spring.

Simeonov also commented on fuel pricing, noting that Bulgaria ranks third in Europe for the lowest diesel prices at the pump, following Malta and Poland, and fourth for gasoline. He contested Eurostat data suggesting Bulgaria has the highest fuel price growth in Europe, arguing that such figures must be viewed in the context of the country's overall low price levels. Additionally, he affirmed that the company complies with all applicable sanctions regimes.