Bulgaria’s Energy Ministry has not recommended the nationalisation of the Lukoil oil refinery in Burgas, Energy Minister Zhecho Stankov said on Tuesday, clarifying the government’s position amid market uncertainty.
Speaking to local media, Stankov said his mandate is to ensure uninterrupted oil supplies and that decisions on potential ownership changes fall outside his authority.
“There is no information on potential buyers for the refinery, though major Western companies have offered to supply crude oil,” Stankov said.
He added that the ministry’s focus is on ensuring compliance with international sanctions, particularly from the United Kingdom and the United States, to prevent payments from Lukoil’s subsidiaries from reaching the parent company, which could be used in military actions in Ukraine.
Asked whether the refinery would need to be purchased by the state, Stankov replied: “I have not identified a need in either direction. This is outside my competence. Decisions on ownership cannot be made unilaterally, even by the special administrator, and require approval by the Cabinet.”
The Lukoil refinery in Burgas is one of the largest in Southeast Europe and processes crude oil for domestic consumption and export. Discussions over its future have intensified amid geopolitical tensions and global energy market fluctuations.