After US sanctions, Bulgaria takes measures to protect its Lukoil refinery
Zhecho Stankov, Bulgaria's Energy Minister, said that the country is taking steps to ensure an uninterrupted supply of oil and derivatives following the U.S. sanctions imposed on Russia's Lukoil which operates the largest oil refinery in the country. U.S. president Donald Trump imposed new sanctions on Russia's biggest oil companies Lukoil, and Rosneft over Moscow's conflict in Ukraine. This sent shockwaves throughout Europe where Lukoil operates a network filling stations and stores, transports and refines crude.
Lukoil, Bulgaria's largest crude importer. It operates the 190 000 barrels per day Burgas oil refining plant, more than 200 petrol station and has an extensive fuel depot and transport network.
Stankov, after a meeting of state agencies and ministers, said: "This is a very important situation. We, along with our European partners, will have the chance... to develop a common European Action Plan for the situation which has arisen."
According to him, the Bulgarian plan includes monitoring fuel stock in the country.
"Bulgarians should remain calm. Fuel is available." Stankov told a press conference that the fuel quantities will be guaranteed until the end of this year.
Justice Minister Georgi Georgiev stated that Burgas Oil Refinery and other subsidiaries representing Lukoil Group meet the criteria for the U.S. Sanctions and the government is in contact with U.S. Institutions to ensure the refinery's ability to continue operations.
The Bulgarian Parliament adopted an amendment on Friday that requires the Cabinet and the country’s intelligence service to give their approval before any sale of Lukoil’s assets in Bulgaria. Lukoil had already been under pressure from existing sanctions against Russia for the Ukraine conflict to sell the refinery.
Georgiev stated that the interior ministry and security services have taken extra measures to ensure the capacity, manpower, and any other safety measures at the refinery. (Reporting and writing by Stoyan Neno, editing by Kirby Donovan).
(source: Reuters)
