[REVISION HISTORY]

Lukoil Neftohim refinery operations and pricing scrutiny

Updated 4 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-28 18:15 UTC → 2026-10-11 17:53 UTC · added ~~removed~~

The Lukoil Neftohim refinery in Burgas, Bulgaria, ~~has faced~~ continues to face scrutiny regarding environmental compliance and fuel pricing. ~~Initially, the~~ The Regional Inspection of Environment and Water (RIOSV) ~~launched an investigation following approximately 40~~ previously investigated citizen reports of a “suffocating smell of petroleum products and ~~gas” throughout the city. Following these concerns, the refinery’s new special manager, Evgeni Simeonov, addressed~~ gas.” On the economic aspects of the facility. Simeonov stated that the company could not use profits to subsidize consumer fuel prices, warning that such actions would lead to “decapitalization” and an inability to purchase crude oil. He noted that the refinery maintains sufficient raw materials to export diesel and gas oil without jeopardizing the Bulgarian market, expressing hope that parliament would lift export bans on these products. Regarding energy security, Simeonov denied that Russian oil is entering Bulgaria, asserting that the refinery utilizes over 52 types of crude from regions including South America, Africa, Libya, Iraq, and Norway. In response to market volatility, front, the Bulgarian Commission for Protection of Competition (CPC) has launched an expanded investigation into the wholesale fuel market. The probe examines ~~the mechanisms behind~~ gasoline and diesel price formation, delivery conditions, and the relationship between wholesale and retail prices. The CPC is demanding detailed data from Lukoil Bulgaria EOOD, Lukoil Neftohim Burgas AD, Saxa OOD, Bent Oil AD, Bulmarket DM EOOD, OMV Bulgaria OOD, Rompetrol Bulgaria EAD, and Insa Oil EOOD for the period between May 1 and September 28, 2026. ~~Amidst these investigations,~~ Deputy Prime Minister and Minister of Economy Alexander Pulev has criticized former Lukoil special manager Rumen Spevov, accusing him of pursuing a “pseudo-social policy” ~~regarding fuel prices. Pulev claimed Spevov’s tactics were unsustainable and~~ that led the refinery toward a liquidity crisis. Pulev defended current manager Evgeni Simeonov, noting that while Bulgaria maintains some of the lowest fuel prices in the EU, this is a “half victory” because low prices do not offset the low purchasing power of Bulgarian households. Regarding supply, Lukoil Neftohim Burgas stated that Bulgaria faces no risk of diesel shortages, as monthly production of 240,000 to 260,000 tons exceeds national consumption of up to 190,000 tons. This follows the Bulgarian Parliament’s September 23, 2026, decision to lift a temporary export ban on diesel and aviation fuel. Pulev noted that lifting the ban would provide liquidity for the refinery and the broader industry without causing market deficits.

Versions

Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.