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Minister Malinov on the sale of Lukoil Neftohim Burgas: I have no such information. I will make official inquiries

Earlier, the Financial Times newspaper, citing its sources, spread information according to which "Lukoil plans to sell its majority stake in its refinery in Bulgaria, the company's largest asset, by the end of the year in the Balkans, of a Qatari-British consortium

Nov 6, 2024 13:52 280

Minister Malinov on the sale of Lukoil Neftohim Burgas: I have no such information. I will make official inquiries  - 1

Energy Minister Vladimir Malinov was informed by the media about the potential deal for “Lukoil Neftohim Burgas”. He announced this at a briefing in the Council of Ministers, quoted by Nova TV. And he explainedthat he would make formal inquiries to shareholders and the refinery's operational management about a potential deal. If such data is received, it will be analyzed.
„I emphasize that neither the Ministry of Energy nor I have such information. "Neither provided by the majority shareholder, nor by the operational management of the refinery, nor by the representative of the state, who is on the company's supervisory board," Malinov stressed.
The minister explained that he was concerned about the lack of information provided through official channels. “For this reason, we will be making formal inquiries to the shareholders and operational management of the refinery about this potential transaction. If we receive such information, we will analyze it”, he also stated.

Malinov explained that the rights that the state has because of the “golden” their shares in the refinery are too limited. Therefore, I will insist that the state have more opportunities to obtain information when ownership changes, but also to express a definite opinion regarding this type of process.
He said that the government respects private ownership, such as “Lukoil Neftohim Burgas”. But he emphasized that the refinery performs strategic activities and is a strategic object of Bulgaria's national security.
Earlier, the Financial Times newspaper, citing its sources, spread information according to which “Lukoil” plans to sell its majority stake in its refinery in Bulgaria, the company's largest asset in the Balkans, to a Qatari-British consortium by the end of the year. The company is said to have announced its intention in a letter to President Vladimir Putin, who must approve the deal.

„Lukoil” has chosen as a buyer a consortium composed of “Oryx Global” (Oryx Global), controlled by Qatari businessman Ghanim bin Saad al-Saad, and the London-based trading company “DL Hudson” (DL Hudson), and would like to close the deal by the end of the year. Ghanim bin Saad al Saad was also interested in the purchase of the “Lukoil” refinery. in Sicily ISAB (ISAB), but the capacities were sold to the private Cypriot investment company “GI Energy” (G.O.I. Energy), backed by Geneva-based trading firm “Trafigura” (Trafigura)”, writes in the article quoted by BTA.

„Oryx” has refused to comment on the subject, and from “DL Hudson” have not responded to inquiries sent to them. Before BTA from the press service of “Lukoil Neftohim Burgas” have said they will not comment on the information at this stage.