Russian Oil Giant Lukoil to Exit Bulgaria, Sells Refinery to New Consortium

Russian energy giant Lukoil has announced plans to sell its largest asset in the Balkans, the refinery in Burgas, Bulgaria, to a Qatari-British consortium by the end of the year, marking a significant shift in Moscow’s influence over energy supplies in Southeastern Europe, as reported by the Financial Times.

The sale has been approved by Russian President Vladimir Putin, who must still formally sanction the transaction. The deal is set to be completed with a consortium consisting of Oryx Global, led by Qatari businessman Ghanim Bin Saad Al Saad, and the London-based commodities trading firm DL Hudson.

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