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Energy Minister learned about sale of Lukoil Neftohim Burgas from the media

Photo: BTA

Acting Energy Minister Vladimir Malinov told a briefing that neither he nor the Energy Ministry had any information about the sale of Lukoil Neftohim Burgas. Yesterday, the Financial Times, citing its own sources, reported that Russian energy giant Lukoil plans to sell its majority stake in its refinery in Bulgaria, the company's largest asset in the Balkans, to a British and Qatari consortium by the end of the year. "This is what worries me personally - the lack of any information through official channels," Malinov said. "I also could not comment on the new owner mentioned by you, the media, because I am not familiar with the structure or the nature of this ownership arrangement," he added.

Malinov said that he would make formal enquiries to the refinery's shareholders and management about the potential deal, after which a thorough analysis of the fuel market in Bulgaria and the impact of the possible sale on the state's fiscal policy would be made. He said that at the moment he could not say how it would affect the domestic fuel market and budget revenues, especially considering the excess profits tax on Lukoil Neftohim Burgas. Bulgaria holds a "golden share" in the refinery, but has limited rights attached to it.

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