LUKOIL-BULGARIA EOOD
LUKOIL-BULGARIA EOOD

News

2026
09. 2026

Evgeni Simeonov: Fuel prices are high due to the two wars and the global shortage of oil products

Evgeni Simeonov: Fuel prices are high due to the two wars and the global shortage of oil products

It is up to the parliament and the Council of Ministers to decide whether there will be any discounts for businesses and consumers, says the special commercial manager of the "Lukoil" companies

- Mr. Simeonov, the price of a barrel of Brent crude passed 100 dollars. This has happened before, though, so why are we now seeing such higher prices at the pumps?

- There are many reasons. First, in the years before, when the green deal was being conceived, Europe decided to become much more environmentally friendly and began deindustrialization. This also affected refineries, and over the last 20 years, around 35 refineries in Europe were closed. This production was moved to the Persian Gulf, meaning that from there, apart from crude oil, ready refined products also came. As of today, the Persian Gulf is literally closed, the Strait of Hormuz is closed, and neither crude oil nor finished refined products can come from there. The next reason is the war in Ukraine. In recent months there have been many drone attacks targeting refineries in Russia. A large part of the refined production from Russia entered Turkey, and subsequently many countries in Western Europe sourced finished refined products from there. They said the products were not Russian, but in reality the original source was there. As a result, in practice, no finished refined product is coming into Europe, and diesel is becoming a very scarce commodity.

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Happy Petrochemist's Day!

Happy Petrochemist's Day!

Today we celebrate not just a profession. We celebrate the people who, for more than six decades, have been writing the history of the Bulgarian petrochemical industry.

From the first installations in 1963 to the modern oil refinery today, behind every achievement stand knowledge, experience, professionalism, and dedication.

Today we thank the veterans who laid the foundations and created a professional school. The petrochemists of today, who every day carry the responsibility for production, safety, and quality. And the young specialists who will continue this history and build the future.

We are proud of the history and believe in the future.

We wish all current and former petrochemists, as well as their families, health, professional satisfaction, and many more reasons for pride!

Happy holiday!

08. 2026

Evgeni Simeonov on the Lukoil refinery:

Evgeni Simeonov on the Lukoil refinery

I found a difficult scenario, we increased processing and improved the financial condition.

Since June, we have gradually started increasing processing at the refinery. At the beginning of the year it was at extremely low levels - about 450 thousand tons of processed oil. In June we reached 527 thousand tons, and in July - 560 thousand tons of processed oil. In August I expect the figures to be close to those from July. This was stated before the Energy Committee by the new special manager of "Lukoil".

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