Lifting the ban on diesel and jet fuel exports will boost the financial results of Lukoil Neftohim Burgas, which means higher taxes for the state by the end of the year. That's what Evgeni Simeonov, the special trade manager appointed to run Lukoil, told BTA after MPs voted yesterday to scrap the ban, which had been in place since late October last year.

Simeonov said the refinery can now sell abroad only what's left over after the Bulgarian market's needs are met. He explained that the plant's contracts and internal planning put the domestic market first, and only the surplus will go for export.

"This won't affect Bulgarian consumers in any way — they'll get all the fuel they need, because every contract Lukoil Neftohim Burgas has clearly states that domestic market needs come first. So consumers can rest easy — there will be fuel," the special manager said.

Deputy economy, investment and industry minister Mihaela Karadimova said yesterday that the value of fuel held back so far could reach around $197.6 million. Asked about that figure, Simeonov said you can't forecast financial results based on one or two months. The final profit and the taxes the company pays depend on world oil prices, he said, as well as on wars going on right through the full 12-month financial year.

"We'll be able to say exactly what the state gains and earns at the end of the year, once we have the full period, because running a strategic company like this isn't about one month, two months or three. You have to look at longer stretches of the financial year. An accounting and financial year is 12 months, as you know. We can't say, based on one or two good months, whether the company will end up in profit and how much tax it will pay," Simeonov said.

The manager explained that exports don't push up prices for people at home. Prices are set by world oil prices and refining costs, he said, not by whether the company sells its surplus abroad.

"Prices are driven by international quotes and by the costs of refining crude oil and oil products. Exports can't have any effect on that," Simeonov said. He added there's no risk of a fuel shortage either, since the Bulgarian market's needs are covered first, and only then does the company sell to customers abroad.

Simeonov also rejected claims made by the opposition yesterday that lifting the ban means the state is losing control and fuel will be exported with no oversight. He called those claims groundless. He also dismissed talk that the decision was influenced by specific oligarchs, calling that idea absurd too.

The manager also explained how exports actually work — through regular tender and bidding procedures, following the rules used across the oil industry, including customer checks. "All companies go through initial vetting — in the oil business this is called KYC, or Know Your Customer. There's a list of companies approved to work with Lukoil Neftohim Burgas, and we've approved them too. We send them an inquiry, and they reply saying whether they're interested or not, and quote a price they'd be willing to pay for the fuel. Once we've gathered all the offers, we pick whichever is most favourable for the company financially and sign with them," Simeonov explained.

He wouldn't say which countries the fuel will go to, since that depends on the offers the company receives and picks as the best ones. He did mention the Mediterranean, Western Europe and other regions as possible markets. Simeonov noted that the logistics of arranging transport by ship or rail tanker takes time and needs planning at least a month to six weeks ahead, so actual exports won't start the moment the decision is published in the State Gazette.

Asked about reports on American investor Todd Boehly, who is said to have backing from the U.S. government and from influential figures in the Gulf tied to the Trump family as he bids for Lukoil's international assets, Simeonov said that as the operational manager appointed by the Bulgarian state, he's responsible only for running the company's assets in Bulgaria. The local company, he said, has no involvement in and no information about talks over the sale of the parent company's international assets.