In view of the significant change in the operating conditions of the Lukoil Group companies in Bulgaria, the Company has commenced work to review its strategy with respect to this asset, APA-Economics reports citing Lukoil.
Various options will be analysed with the involvement of international consultants, including the sale of the business.
The Lukoil Group has been actively investing in the development of its assets in Bulgaria for more than 20 years. In particular, investments in the Burgas refinery, exceeding USD 3.4 billion, have turned it into one of the most environmentally efficient and technologically advanced refineries in Europe.
In addition, a modern distribution network has been established, including 220 petrol stations and 9 oil depots, as well as enterprises for bunkering ships and aircraft. The Group's operations in Bulgaria have traditionally maintained high world standards of corporate and social responsibility.