Банкеръ Weekly

Briefs

LUKOIL HOLDS 89% MARKETSHARE OF PETROL BUSINESS IN BULGARIA

89% marketshare of petrol business is held by us, said Valentin Zlatev, director of Lukoil Bulgaria and President of the Board of Directors of Lukoil Neftochim Bourgas in an interview for The Banker weekly.


Of all big companies distributing petrol products through their own distribution network - Shell, Eco Petroleum, OMV and Petrol- only the latter does not purchase petrol products from the recently privatized refinery.


He also explained that price formation in the refinery follows the methodological instructions received by the Market Research Division at the Lukoil headquarters in Moscow.


He also mentioned that the refinery is currently covering all its payments - to the budget, to the social insurance system, to the Ministry of Environment. They are also repaying old credits, received for the buy-out, and till the end of the year USD82MN will be settled.


On his opinion the investment schedule of the company is followed strictly. More than 2/3 of the annual investment schedule, totally amounting to USD36MN, have already been fulfilled. We will fulfil the remaining part as well, assured he.


And what is the attitude of Lukoil towards the two petrol pipeline projects for Bulgaria - from Bourgas to Alexandroupolis and to Vleura (the AMVO Project)?


We participate in the Commission developing the Bourgas - Alexandroupolis Project. We think that should this project is carried out, the line must go through the port and the refinery. This is our firm position. As for the Bourgas - Vleura Project, I think that it is still in a somewhat initial stage, said Mr. Zlatev.

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