Bulgaria has lifted restrictions on fuel exports from the Neftochim Burgas refinery, allowing diesel, jet fuel and other products to return to EU and international markets.
The restrictions were imposed after US sanctions against Lukoil raised concerns over domestic fuel security and the continued operation of Bulgaria’s largest refinery.
Changes to the sanctions framework have since reduced the immediate supply risk, while exemptions introduced by the United States and Britain cover Lukoil’s Bulgarian subsidiaries. The refinery continues to operate under a state-appointed special administrator.
Maintaining the export restrictions had increasingly risked creating problems of its own, particularly for refinery operations and traders with existing supply commitments outside Bulgaria.
Production at Burgas has also been recovering, increasing the volume potentially available for export.
The decision comes as the refinery’s long-term ownership remains unresolved. Lukoil is seeking to dispose of most of its international assets, with Carlyle facing competition from another US-backed investor consortium.
Reopening exports could restore Burgas as an important regional supplier at a time when ownership uncertainty continues to hang over one of Southeast Europe’s largest refining assets.
