LUKOIL PLANS EXPANSION IN BULGARIA
Russian oil giant LUKoil plans to invest 51 million dollars in Bulgaria next year and aims to have a 25-percent share of the country's petrol market by 2005, company officials said last Tuesday.
Over the next four years, LUKoil intends to open 120 to 130 new petrol stations in Bulgaria, expanding on the 13 it already operates, LUKoil's vice-president Leonid Fedoun told a news conference.
Last year LUKoil invested 40 million dollars (45 million euros) in Bulgaria, said its Bulgarian head, Valentin Zlatev.
In 1999, LUKoil bought 58 percent of Bulgaria's largest refinery Neftochim in Burgas for 101 million dollars (114.5 million euros).