Minister Malinov: I will insist for the extension of the rights of the class a shareholders
In response to a request of the Energy Minister LUKOIL Neftohim Burgas AD denied the information that talks are ongoing for the sale of the refinery
"The rights which the Bulgarian government has according to class "А" share in Lukoil Neftohim Burgas АD are too limited. I will insist that we have more opportunities for information when ownership changes. The state should have the right to express an opinion on this type of process when it comes to a company - part of the country's national security". This is what the Minister of Energy Vladimir Malinov said regarding the information about the potential sale of the Burgas refinery to a Qatari-British consortium.
In the words of Minister Malinov, LUKOIL Neftohim Burgas AD is a strategic site as part of the national security of the country, and the class A share the state holds (the so called “golden” share) does not give it the right to veto decisions related to ownership change.
"I believe that the change in the ownership of such a strategic company affects both the fuel market, and the revenues in the budget. It is therefore only natural that the state has a say in such a potential transaction," added Minister Malinov.
After a request sent by Minister Vladimir Malinov, Litasco SA (a member of the Lukoil Group), shareholder in LUKOIL Neftohim Burgas AD refinery in Bulgaria, stated that no talks are held with the Qatari-British consortium. Lukoil remains committed to conducting a transparent process and will continue to inform the Bulgarian authorities", the response to the Ministry of Energy also states.