site.btaLukoil Special Administrator Says Fuel Supplies Secure, Reports Stable Refinery Operations and Cost Savings

Bulgaria’s fuel supplies are secure and the financial position of the Lukoil Neftohim Burgas refinery has been stabilized, special commercial administrator Rumen Spetsov told the parliamentary Committee on Economic Policy and Innovation on Wednesday, presenting his action plan and report on the company’s operations. 

Spetsov assured lawmakers that supplies of crude oil remain regular and predictable and that there is no risk of fuel shortages in the country. He described the Burgas refinery as one of the most technologically advanced facilities and said its engineering teams have successfully adapted production processes to handle various crude oil types, despite the facility originally being designed to process primarily Urals crude. 

He also reported that fuel exports by tanker totaled 105,700 tonnes in February, citing Customs Agency data. Of that volume, 95,000 tonnes have already been delivered, while the remaining shipments are expected within days. Export agreements for March amount to 120,000 tonnes, subject to transaction approval and execution. Spetsov said contractual partners are informed about licensing requirements and confirmed that the company faces no contractual penalties. The parliamentary committee approved his report with 12 votes in favour and four abstentions. 

According to Spetsov, the refinery has also achieved significant financial savings following the removal of the Switzerland-based intermediary Litasco, which previously handled commercial transactions. He said USD 8 million have been saved over two months after eliminating intermediary commission fees. The refinery’s financial stability has been further supported by deferred payments and barter agreements for crude oil, resulting in a positive financial outcome for January. 

Spetsov was appointed special commercial administrator in November 2025 to oversee Lukoil’s operations in Bulgaria ahead of new international sanctions affecting the company’s activities.