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October 4, 2022
BUSINESS

Lukoil will build in Bulgaria the largest refinery in Eastern Europe

Lukoil plans to invest around USD 25 B in oil processing and petrochemical manufacture in the next 10 years, according to Vagit Alekperov, President of the Russian oil giant, Novinite informs. In a Monday media statement, Alekperov revealed that in end-September the company would sign a contract with French Tecnip for the construction of the biggest hydrocracking facility in Eastern Europe at Bulgaria’s Burgas-based Lukoil Neftochim refinery. “Tecnip will be under obligation to build the unique installation in 35 months’ time, thereby making the plant the best in Eastern Europe in terms of depth of oil refining”, Lukoil’s President stated. Lukoil owns a total of 10 refineries, half of which are located in Russia.

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