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FT: Russian oil company Lukoil plans to sell its Bulgarian refinery to Qatari-British consortium

Lukoil Neftochim in Burgas
Photo: BTA

The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times. 

The deal is expected to be announced by the end of 2024. 

Lukoil has already sent a letter to President Vladimir Putin informing him of the intention to sell, the publication said. The deal has been expected to happen for months, but until now there was no official word. 

The chosen buyer is the Oryx Global consortium of Qatari businessman Ghanim Al Saad and London-based trading house DL Hudson. Neither company would confirm or deny the news to the FT. 

According to FT information, the state energy companies of Azerbaijan and Kazakhstan - Socar and KazMunayGas, as well as the Turkish oil group Opet - participated in the bidding for Neftochim.

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