United Kingdom extends Lukoil licenses in Bulgaria

The United Kingdom has extended the general license for Lukoil's four companies operating in Bulgaria until October 29, 2026. This decision, made at the request of the Bulgarian government, aims to synchronize the British license with existing US authorizations to ensure parallel regulatory regimes.

Bulgarian Deputy Prime Minister and Minister of Economy Alexander Pulev stated that the extension is a critical step to ensure the continuous operation of the Lukoil Neftohim Burgas refinery, maintain fuel supply stability, and prevent market volatility or price shocks for Bulgarian consumers. The government has also designated Lukoil's facilities as vital to national security to mitigate risks associated with sanctions and potential changes in operational control.

The move follows previous legislative efforts to prevent new sanctions against the companies and seeks to provide stability amidst geopolitical pressures and energy market fluctuations.