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lukoil

  In this article, we look at the implications for Bulgaria from Lukoil’s exit from the country’s and possibly EU’s market. While Bulgaria is definitely not Lukoil’s most important market in Europe, it bears significance, due to Lukoil’s almost complete monopoly in the oil fuels sector there, further exacerbated by this country’s full reliance on Russian energy. While Lukoil’s expected exit may represent an opportunity for Bulgaria to foster competition on its energy market, this analysis suggests that for a number of internal and external reasons, it may fail to make use of it.   By some accounts, Lukoil is considering disposal of its remaining downstream assets in Europe, including its refinery and possibly retail business in Bulgaria. The refineries in Italy, the Netherlands and Romania are also up for

This entry was posted in Bulgaria and tagged , , , , , , by A. Sorensen Henrik.

About A. Sorensen Henrik

Henrik A. Sorensen is a natural resources economist with more than four decades of professional experience. Mr. Sorensen has a BSc in Mechanical Engineering from the University of Gothenburg and MBA from McCombs School. In the first part of his career he has specialized in project finance of oil production, infrastructure, and downstream operations in the US, South-east Asia, Latin America, and later, the former Soviet Union. Since 2007 Mr. Sorensen specializes predominantly in research related to economics of natural resources.