Putin: Lukoil to invest $1.5b to $2b in Bulgarian refinery
MOSCOW – Russia's biggest independent oil producer OAO Lukoil Holdings will invest between $1.5 billion and $2 billion in its Bulgarian refining asset, the Interfax news agency said Saturday, citing Russian Prime Minister Vladimir Putin.
Lukoil has already spent $1 billion on its Lukoil Neftochim Burgas refinery, and will invest another $1.5 billion to $2 billion, Putin said.
The Lukoil Neftochim Burgas refinery, which is located on Bulgaria's Black Sea coast, is the biggest in the Balkans and currently has capacity to refine 8.8 million tons of crude a year.
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