Bulgaria appoints special manager for Lukoil sale

Bulgaria’s government intends to appoint a special administrator to negotiate the potential sale of Lukoil operations rather than pursue nationalization, according to deputy chairman Rumen Hristov of the GERB-SDF parliamentary group. Speaking on Monday during BNT’s program The Day Begins, Hristov explained that proceeds from any transaction would remain frozen in a Bulgarian financial institution until sanctions end and the conflict concludes, at which point funds would transfer to the owner.

The official dismissed concerns about fuel supply disruptions or price increases, noting the country maintains adequate reserves while global petroleum costs remain relatively low. Hristov expressed skepticism about Bulgarian Energy Holding acquiring the refinery, citing uncertainty about whether the state enterprise possesses sufficient financial resources for such a purchase. The measures aim to ensure the continued operation of the Neftochim Burgas facility despite international restrictions imposed on the Russian-owned company.