Bulgaria is currently not facing any immediate risk to its fuel supply, according to Rumen Spetsov, the special commercial administrator overseeing Lukoil Neftohim Burgas. He confirmed that crude deliveries to the refinery continue without disruption, describing the supply chain as steady and predictable. Spetsov added that there are no signs of potential shortages on the domestic market. The Burgas refinery remains one of the most advanced refining complexes in the region. While initially designed to process primarily Russian Urals crude, technical teams have successfully adapted production systems to handle a wider range of feedstock types.
On the export front, the refinery shipped over 105,000 tons of fuel by sea in February, according to Bulgaria’s Customs Agency. Most of this volume has already reached buyers, with remaining cargoes scheduled for imminent delivery. Export contracts for March total 120,000 tons, pending final approvals. Spetsov emphasized that business partners have been informed about regulatory licensing requirements and confirmed that the company is not exposed to contractual sanctions or penalties.
The refinery’s financial performance has improved after ending its relationship with the Swiss-based intermediary Litasco, which previously managed commercial transactions. According to Spetsov, removing intermediary commissions generated savings of approximately 8 million dollars over two months. Additional liquidity support has been achieved through deferred payment arrangements and barter-style crude supply agreements, contributing to a positive financial result in January.
Spetsov assumed his role in November 2025, tasked with supervising Lukoil’s Bulgarian operations in anticipation of potential international sanctions that could impact the company’s activities.
