November 17, 2023 13:46 GMT
Bulgaria Edges Towards Ending Russian Oil Imports
Bulgaria may in March end the EU exemption allowing it to continue receiving Russian oil, bringing them in line with other nations in the bloc.
- Bulgaria was issued the exemption last year because of a lack of supply options for its Lukoil refinery in the Black Sea city of Burgas.
- Bulgaria’s ruling coalition members reached the deal to end the imports, but it still needs approved by parliament.
- The refinery is setup for Russian Urals which could be replaced by Kazakh supplies, but they are now in high demand.
- “In order to move to non-Black Sea oil, the actual storage capacity needs to be increased substantially — maybe doubled — so that the refinery can work 20, 30 days potentially without a tanker coming in.” Finance Minister Assen Vassilev said.