Burgas: Control of Lukoil’s assets in Bulgaria has been officially transferred to an external administrator following the adoption of a new law by the Republic of Bulgaria. On November 14, 2025, this legislation was enacted to introduce external management at LUKOIL Neftochim Burgas, LUKOIL Bulgaria, and other associated LUKOIL Group entities within the country.

According to Azeri-Press News Agency, as of November 17, 2025, the governing powers of these entities have been handed over to an external administrator. LUKOIL anticipates that the external administrator will comply with all applicable laws to ensure ongoing operations, supply of fuel to the Bulgarian market, tax payments, and maintenance of the company’s established social policies towards its employees.

For over 25 years, LUKOIL has been the largest investor and fuel supplier in Bulgaria, playing a significant role as an employer and taxpayer. The company has actively engaged with the local community while upholding industrial and environmental safety standards. Since 1999, LUKOIL’s investments in Bulgaria have exceeded USD 4.5 billion.

LUKOIL International GmbH, which consolidates the operations of LUKOIL Neftochim Burgas, LUKOIL Bulgaria, and other group entities in the region, has secured a General License from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). This license, valid until December 13, 2025, is intended to facilitate the sale of LUKOIL’s international assets.

LUKOIL is actively pursuing the sale of its refinery, filling stations network, and other assets in Bulgaria to a new owner, expecting that the external administrator’s activities will not hinder this process. The company also reserves the right to seek legal remedies to protect its rights and legitimate interests if necessary.