Lukoil Neftohim Burgas manager rejects using profits to subsidize fuel prices

Evgeni Simeonov, the new special manager of Lukoil Neftohim Burgas, stated that the company cannot use its profits to subsidize fuel prices for consumers, warning that doing so would lead to decapitalization. He explained that artificially lowering prices could leave the private enterprise without sufficient funds to purchase crude oil in the future.

Simeonov described recent government measures to combat high fuel costs, such as reducing the excise duty on propane-butane, as reasonable and beneficial for vulnerable populations. He noted that the refinery maintains enough raw materials to export diesel and gas oil without jeopardizing the Bulgarian market, expressing hope that the parliament will soon lift export bans on these products.

Regarding energy security, Simeonov denied that Russian oil is entering Bulgaria, asserting his role as a guarantor against such imports. He attributed high diesel prices in Europe and the US to the disruption of Russian exports following drone attacks on refineries. The company currently utilizes over 52 types of crude from South America, Africa, Libya, Iraq, and Norway.