Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Media speculations appear that Lukoil in Burgas will be bought by Azerbaijan's SOCAR

Photo: Reuters

The Azerbaijani state oil company SOCAR is the most likely buyer of the Lukoil Neftohim Burgas refinery, reported the site of the Trud newspaper. At the end of April 2023, SOCAR opened an office in Sofia in the presence of the presidents of Bulgaria and Azerbaijan, Rumen Radev and Ilham Aliyev. At the same time, the Commission for Energy and Water Regulation granted a license to SOCAR Trading Gas and Power to trade natural gas on the Bulgarian market, Trud daily writes.

The famous economist Evgeny Kanev was the first to predict that the buyer would be SOCAR. He was joined on December 6 by Delyan Dobrev, the deputy from GERB, who is the chairman of the energy commission in the Parliament, according to the website of the Sega newspaper.

"Due to the geographical specifics of the production in Burgas and the logistics of supplying it with raw materials, the comments from the industry are that some interest in the refinery may come mainly from the Black Sea region, where the strong positions are held by the Azerbaijani state oil company SOCAR, which has a huge refinery in Turkey, and to Kazakhstan's KazMunayGas, owner of Romanian Rompetrol," wrote Capital.

SOCAR recently entered into an agreement with Russia's Lukoil, Reuters reported, according to which the Russian oil company will lend SOCAR $1.5 billion and supply SOCAR's STAR oil refinery in Turkey with up to 200,000 barrels per day of Russian crude oil.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Laura Kövesi and Teodora Georgieva

Laura Kövesi reveals reasons for disciplinary proceedings against Bulgarian European Prosecutor

In a letter to the Bulgarian Judges Association, European Chief Prosecutor Laura Kövesi announced the reasons for the disciplinary proceedings initiated against Teodora Georgieva, a Bulgarian representative in the European Public..

published on 10/2/25 8:50 AM

Bulgarian President to participate in the presentation of phototype edition of the Macedonian Almanac

Bulgarian President Rumen Radev will participate today in the official presentation of a phototype edition of the Macedonian Almanac of the Macedonian Patriotic Organization on the occasion of the 85th anniversary of the original.  The..

published on 10/2/25 7:05 AM

Cloudy, very windy, with rain and wet show in the mountains on Thursday

On Thursday, minimum temperatures will range from 6°C to 11°C, reaching around 5°C in Sofia. It will be cloudy, windy and rainy during the day, with unsettled weather conditions. There will be a moderate north-easterly wind, stronger in eastern..

published on 10/1/25 7:05 PM