Report: Lukoil's Burgas refinery part of Boehly-led deal backed by Trump
Bulgaria's only oil refinery is among Lukoil's foreign assets that a consortium led by U.S. billionaire Todd Boehly plans to buy with Trump's backing, the New York Post reported.
Graphic: TERRA WORLD NEWS (own graphic based on the sources listed)
Lukoil's refinery in the Bulgarian Black Sea city of Burgas is included in a deal for the Russian oil company's international assets, the New York Post reported, citing an unnamed U.S. government source. Bulgarian news agency BTA and public broadcaster BNT carried the report on Saturday. Refineries in Romania and the Netherlands are also part of the package.
The buyer would be a consortium led by U.S. billionaire Todd Boehly that has the support of President Donald Trump, according to the newspaper. BTA said the U.S. International Development Finance Corporation (DFC) is also involved. The consortium aims for capacity of more than 350,000 barrels per day after taking over the three refineries, and the deal is expected to bring billions of dollars to Washington. Lukoil's foreign assets are valued at about $20 billion.
Lukoil has been forced to sell its international holdings under sanctions imposed over Russia's war in Ukraine. According to BTA, U.S. authorities have extended until Oct. 22 a license allowing talks on the sale of Lukoil International, which owns the Burgas refinery. There has been no official confirmation of the deal.