Burgas refinery: UK extends Lukoil licence until February, a day before expiry
Britain will allow dealings with Lukoil's four Bulgarian companies until Feb. 26, 2027, a move seen as key to insuring the oil tankers that supply the Burgas refinery.
Archive image · Photo: Nasomatrix / Wikimedia Commons, CC BY-SA 3.0 (cropped and resized)
Britain's Office of Financial Sanctions Implementation (OFSI), part of the Treasury, has extended by four months its licence covering the Bulgarian subsidiaries of Russian oil company Lukoil. The licence now runs until Feb. 26, 2027, and permits dealings with Lukoil Bulgaria, Lukoil Neftochim Burgas, Lukoil Aviation Bulgaria and Lukoil Bunker Bulgaria. The previous authorisation was due to expire on Oct. 29, according to Dir.bg. Bulgaria's economy ministry announced the extension.
Deputy Prime Minister and Economy Minister Alexander Pulev credited "active dialogue at government level" under Prime Minister Rumen Radev, as well as talks with British partners and the UK embassy in Sofia, the BTA news agency reported. Pulev said British insurers cover more than 90% of the tankers delivering crude oil. They are essential for the functioning of the supply chain, he said.
In mid-October, Bulgaria secured a six-month extension of the U.S. OFAC general licence for the same four companies, valid until April 24, 2027.