Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Media speculations appear that Lukoil in Burgas will be bought by Azerbaijan's SOCAR

Photo: Reuters

The Azerbaijani state oil company SOCAR is the most likely buyer of the Lukoil Neftohim Burgas refinery, reported the site of the Trud newspaper. At the end of April 2023, SOCAR opened an office in Sofia in the presence of the presidents of Bulgaria and Azerbaijan, Rumen Radev and Ilham Aliyev. At the same time, the Commission for Energy and Water Regulation granted a license to SOCAR Trading Gas and Power to trade natural gas on the Bulgarian market, Trud daily writes.

The famous economist Evgeny Kanev was the first to predict that the buyer would be SOCAR. He was joined on December 6 by Delyan Dobrev, the deputy from GERB, who is the chairman of the energy commission in the Parliament, according to the website of the Sega newspaper.

"Due to the geographical specifics of the production in Burgas and the logistics of supplying it with raw materials, the comments from the industry are that some interest in the refinery may come mainly from the Black Sea region, where the strong positions are held by the Azerbaijani state oil company SOCAR, which has a huge refinery in Turkey, and to Kazakhstan's KazMunayGas, owner of Romanian Rompetrol," wrote Capital.

SOCAR recently entered into an agreement with Russia's Lukoil, Reuters reported, according to which the Russian oil company will lend SOCAR $1.5 billion and supply SOCAR's STAR oil refinery in Turkey with up to 200,000 barrels per day of Russian crude oil.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

The Commission on Protection of Competition conducts major survey in the food sector

The Commission on Protection of Competition has requested information from producers and retailers of fast-moving consumer goods to determine the pricing methods, delivery conditions and factors influencing price changes . The focus of the study is on..

published on 2/14/25 5:52 PM

Rumen Radev: Realism replaces naivety regarding the situation in Ukraine

There is finally political will at the highest level to resolve the conflict between Ukraine and Russia through diplomacy, and this process must be supported, President Rumen Radev told journalists before the opening of the Munich Security Conference...

published on 2/14/25 5:28 PM

Bulgaria included in European familiarisation tour of senior US officers

Deputy Minister of Defence Radostin Iliev and Deputy Chief of Defence Lt. Gen. Krassimir Kanev hosted senior U.S. officers from the National Defense University on February 14. The officers, who have completed the CAPSTONE Senior Military Leadership..

published on 2/14/25 3:00 PM