Lukoil Neftohim Burgas

LUKOIL Neftohim Burgas (Bulgarian: ЛУКОЙЛ Нефтохим Бургас), based in Burgas, Bulgaria, is the largest oil refinery in the Balkans and the largest industrial enterprise in Bulgaria.

Owned by Russian oil giant LUKOIL, the refinery has the biggest contribution among the privately owned enterprises to the country's GDP and to the state budget revenues. LUKOIL Neftohim Burgas is the leading producer and supplier of liquid fuels, petrochemicals and polymers for Bulgaria and the region and one of the leading companies in its field in Europe.

The LUKOIL Neftohim refinery

In November 2021, Competition commission of Bulgaria accused Bulgarian branch of “Lukoil” of abuse of market dominance, due to, despite company`s biggest warehouse and logistics infrastructure on local oil market, Lukoil`s withdrawal to stock oil from other companies at Lukoil taxable warehouses, switched to main oil terminals in Bulgaria as well as to provide access to pipes for transportation of imported oil. In return, “LUKOIL Neftohim Burgas” has brought into focus, that any of the rules on Bulgarian oil market weren`t violated by the company.[1] In 2022, it announced that it could only work with Russian oil grade "Ural". After he managed to avoid the embargo on Russian oil, he produces his fuel at several times lower cost, which he sells now at market prices. The refinery is also under investigation for tax evasion and financial manipulation. [2] [3][4]

Products

Fuels

LUKOIL Neftohim Burgas AD produces the following petrochemical products:

  • Motor gasoline А-92 /export outside the EU/
  • Motor gasoline А-95 under EN-228 /Euro-5/
  • Motor gasoline А-98 under EN-228 /Euro-5/
  • Low octane gasoline /LOG/
  • Diesel fuel without bio component under EN-590 /Euro-5/
  • Diesel fuel with bio component B4 under EN-590 /Euro-5/
  • Gas oil 0,1% S
  • Jet fuel А-1
  • Fuel oil
  • Bitumen
  • Vacuum residue

Other products

Polymers

Workplace

LUKOIL Neftohim Burgas employs 1,348 people (2019),[5] the average salary being the highest among industrial companies in the country. The refinery has operated entirely on self-produced electric power since 23 May 2000 and uses water from the nearby Lake Mandrensko.

Taxation

Lukoil Neftohim Burgas had never paid tax in Bulgaria as profits were sent to the parent in Switzerland. Then in 2022 tax of BGN 3.5 million was paid. It was expected that tax in 2023 would amount to BGN 100 million and BGN 600-700 million in 2024.[6]

See also

References
  1. "Лукойл Болгарии злоупотребил положением на рынке топлива" (in Russian). ТАСС. 2021-11-11.
  2. "Вносът на руски петрол расте въпреки европейските санкции".
  3. ""Лукойл Нефтохим" ще плати данък печалба за първи път от 15 години".
  4. "Създават временна комисия за изясняване на доставките на суров петрол до "Лукойл Нефтохим Бургас"". 13 July 2022.
  5. "Lukoil Neftohim Burgas Employees". yox.bg. YOX.
  6. "UPDATED Lukoil Neftochim Burgas, Lukoil Bulgaria to Move Their Business to Bulgaria as from January 1, 2023". 21 November 2022.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.