Bulgaria will not experience fuel shortages as long as "Neftochim Burgas" is operational, Evgeni Simeonov assured. The Special Trade Manager of "Lukoil" added that the company has done everything possible through fuel price discounts, while simultaneously working with minimal margins aimed at maintaining a positive financial result.
Although the company currently shows a positive result, Simeonov clarified to Bulgarian National Television that it is too early to speak of profit, as it remains unclear how the current year will conclude. He warned that if "Lukoil" were to start artificially lowering prices, it would lead to the decapitalization of the company.
One of the main factors behind the refinery's heavy expenses is insurance and costs related to the "Green Deal" and other activities. Simeonov reminded that 15 years ago, Europe's decision to go "green" imposed heavy regulations, which subsequently led to the closure of over 36 refineries across the European continent. This production was moved to the Persian Gulf, which is currently blocked, in turn causing prices to rise.
Currently, "Lukoil Neftochim" relies on 52 types of crude oil, which are supplied from various parts of the world – Libya, Iraq, South America, Africa, and Norway, with deliveries primarily passing through the Black Sea.
Regarding the market situation, the manager noted that high fuel prices are a problem affecting all consumers, not just those in Bulgaria. However, he assessed the government's decision to reduce the excise duty on propane-butane as a good measure, as this fuel is crucial for the most vulnerable segments of society.
The future of the fuel export ban depends on the vote in the plenary hall and the subsequent publication of the decision in the "State Gazette". At this moment, the decision has already been approved by the Parliament's Committee on Economic Policy, Investment, and Industry.
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