Protest Fails To Derail Lukoil's Bulgarian Expansion

March 2006 | Company News Alert

Russian oil major Lukoil's investment in and upgrading of the Neftochim Bourgas refinery in Bulgaria came to a halt earlier this year when employees walked out in protest at a nationwide increase in working hours. The demonstrations temporarily derailed Lukoil's progress in bringing Bourgas up to date and in line with European Union fuel standards, a programme that has seen US$400mn pumped into the facility since 1999 and with further plans for US$750mn of additional investment up to 2011. The scheme is paying dividends for Lukoil, allowing it to establish a substantial fuels presence in the country in addition to

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