The Bulgarian government is demanding more decision-making power at Lukoil’s key refinery in the Black Sea port of Burgas, according to Euractiv.
Bulgaria sold the largest refinery in the Balkans to Lukoil 25 years ago, but retained the so-called “golden share,” which gave the Bulgarian government the right to have a representative on the board of directors. However, Energy Minister Vladimir Malinov argued that the state’s rights through ownership of the “golden share” in Lukoil Neftochim Burgas were too limited.
Malinov’s comments were prompted by reports of alleged preparations to sell the refinery to a Qatari-British consortium, which Lukoil denied.
I will insist that we have more opportunities for information when ownership changes. The state should have the right to express an opinion on these types of processes when it comes to a company that is part of the country’s national security.
The Russian company, with its refinery, is the largest fuel producer on the Balkan Peninsula and a significant exporter of jet fuel to almost all countries in the world.
I believe that the change of ownership of such a strategic company affects both the fuel market and the budget revenues. Therefore, it is only natural that the state also has a say in such a potential deal.
