Lukoil Burgas refinery had 200 mln euro shortfall in 2025, administrator says

Evgeni Simeonov, the newly appointed special administrator of Lukoil Neftochim Burgas, said a detailed review of the refinery and other companies in the Lukoil group was under way. He said the refinery ended 2025 with a shortfall of 200 million euros.

"My main goal is to ensure the refinery's uninterrupted operation, stable fuel supplies to the Bulgarian market and strict compliance with sanctions regimes. Together with the Lukoil team, I will also work to safeguard Bulgaria's interests," Simeonov told Bulgarian National Radio. He said that continuous monitoring of the refinery's operations would be introduced, including capacity utilisation, the grades of crude oil processed, and blending activities. No job cuts are planned.

According to BTA, Deputy Prime Minister and Economy, Investment and Industry Minister Alexander Pulev ruled out any plans to nationalise Lukoil, saying such a move was neither planned nor possible in a European Union member state.

Editor: Miglena Ivanova