BAKU, Azerbaijan, September 5. The State Oil Company of Azerbaijan (SOCAR) has expressed interest in the LUKOIL refinery in Bulgaria, a source familiar with the matter told Trend.
Bulgarian sources indicate that SOCAR, together with Turkish holding Cengiz, has formed a consortium to acquire the LUKOIL refinery in Burgas. Other potential buyers include international trader Vitol, Hungary’s MOL Group, Kazakhstan’s national oil company KazMunayGas, and Türkiye’s OYAK pension fund.
SOCAR and LUKOIL have not commented on the reports.
“A long-term strategy underpins SOCAR’s activities in Bulgaria, focusing on mutually beneficial cooperation with relevant government bodies and companies across various sectors - gas supply, gas distribution, and expanding our presence in the petroleum products market. From this perspective, the LUKOIL asset in Bulgaria is naturally of interest to the company. SOCAR has studied the matter and conducted relevant consultations and negotiations,” the source added.
