Archive · 21 Nov 2025
Bulgaria Takes Control of Lukoil's Burgas Refinery Amid US Sanctions
Bulgaria took over Lukoil's big refinery in Burgas to keep it running after US sanctions against Lukoil.
The refinery is very important for Bulgaria and other countries.
Bulgaria is now trying to sell it with the US's help, but Lukoil is not happy about this.
Bulgaria's parliament placed Lukoil's assets in the country under state control to avoid US sanctions
The Burgas refinery, Lukoil's largest in the Balkans, is crucial to Bulgaria's economy and regional fuel supply
Bulgaria appointed Rumen Spetsov as the refinery's administrator to manage its sale
The US granted a temporary license for transactions involving the refinery until April 29, 2023
Lukoil warned Bulgaria against interfering with its efforts to sell the refinery
- Who
- Bulgaria, Lukoil, US, Rumen Spetsov
- What
- Took control of Lukoil's Burgas refinery, appointed administrator, granted temporary license
- When
- November 7, 2022 (parliament decision), after (US sanctions on Lukoil), until April 29, 2023 (temporary license)
- Where
- Burgas, Bulgaria
- Why
- To keep the refinery running, avoid US sanctions, sell the refinery
Bulgarian Government
Lukoil
Refinery Sale
Bulgarian Government
Appointed administrator to sell the refinery with US consent
Lukoil
Warned against interference, reserved right to seek judicial remedies
- Refinery Name
- Neftochim
- Lukoil's Ownership
- Since 1999
- Turnover in 2021
- 4.68 billion euros ($5.39 billion)
- US Sanctions Deadline
- April 29, 2023 (temporary license)
- US Deadline for Buyer
- December 13, 2022