petrol holding bulgariasales compensation surveys
(n.d.). To date, despite enquiries from journalists, the agency has failed to comply. What appears to be a financial sleight of hand is often used by companies that control the entire production process -- from the supply of raw materials through to the final product and its sale. " ", Petrol AD, Some Rights Reserved. The state holds a 100% stake in the holding company. Sofia: Executive Environment Agency at the Ministry of Environment and Water. Retrieved from http://www.iea.org/, Ivanova, I., & Tsolova, T. (2011, July 27). Hristo Ivanov, the co-chairman of Democratic Bulgaria, suggested in 2020 that LUKoil may have avoided paying the equivalent of 500 million euros thanks to transfer pricing. If you need more lookups, subscriptions start at $39 USD/month. The management of Petrol AD is guided by the pursuit of high quality. The remaining 47.5% is owned by Bulgarian businessman Mitko Sabev (Angelov, 2012). Owner of Vabo-1, casinos . How huge sales equals meager revenue is something that doesn't compute for more and more officials in Bulgaria. Retrieved from http://www.mi.government.bg/files/useruploads/files/budget/bulletin_energy_2012_eng.pdf. 1 follower 1 connection. The PetrolPlaza audio version is presented to you by UNITI expo, the leading retail petroleum and car wash trade fair in Europe. Looking for more than just a company report? Petrol Holding Company Profile | Management and Employees List - Datanyze These cookies will be stored in your browser only with your consent. And that describes perfectly LUKoil's operations in Bulgaria. Behind these three seemingly separate companies is LUKoil. [3], Established in 1932,[4] Petrol AD occupies a leading position in the distribution of fuels and oils in Bulgaria. [49], In 2023 the Center for the Study of Democracy made a plan for climate neutrality. Bulgarian Finance Minister Arsen Vassilev told RFE/RL that the audit of LUKoil Neftochim Burgas was not yet finished, adding that Prime Minister Kiril Petkov and other senior officials met in December 2021 with Vadim Vorobyov, first executive vice president of LUKoil. Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days. EMIS company profiles are part of a larger information service which combines company, industry and country data and analysis for over 145 emerging markets. Retrieved from http://www.reuters.com/article/us-bulgaria-russia-idUSBREA390AW20140410. Nitzov, B., Stefanov, R., Nikolova, V., & Hristov, D. (2010, April 6). Enerdata. With more than 330 petrol stations under the Petrol brand, evenly distributed throughout the country, the company has the most developed fuel distribution network in the country. In 1947 the Bulgarian oil industry was nationalized. [36] By the end of 2020 almost 1 GW of onshore wind power had been installed. Bulgaria's biggest fuel retailer Petrol Holding has drawn up a healing plan envisaging an investment of over 100 million euro ($134 million), majority shareholder Kirsan Ilyumzhinov said. Absolute financial data is included in the purchased report. (2014). [2][3], Energy prices are state controlled. According to Bulgarian legislation, Goranov explained, those losses could be deducted, or spread out, over five years. London: BP plc. Pro Force helps you feel the true power of your diesel car. [4] Electricity is traded on the European market,[5] and analysts suggest that more interconnectors should be built. Bulgaria's fuel retailer Petrol, which was established in 1932, is the country's former state petroleum product distribution monopoly. Retrieved from http://neurope.eu/article/russian-oligarch-buys-bulgarian-petrol-holding/, Boyadjiev Y., & Andreev, A. [30] Bulgaria aims to phase out coal power (which is low quality lignite[31]) by 2038 or earlier. (2013). With over 300 filling stations throughout Bulgaria, Petrol is always close to its customers. Purchase the Petrol AD report to view the information. Then-Bulgarian Prime Minister Ivan Kostov (right) has a glass of champagne with the LUKoil President Vagit Alekperov (left) and then-Russian Ambassador to Bulgaria Leonid Kerestedzhiants after the signing of the Burgas privatization agreement in October 1999. I-4 220 . The company was established in April 1932, in the capital city of Sofia, and privatized in 1999. The bidder was LUKoil Petrol, a subsidiary of the Russian energy conglomerate, and the price paid was $101 million. On February 18, 1948, the Grand National Assembly passed a law on the state monopoly over petroleum products. Website by, . ARB/22/29) The Energy Charter Treaty (1994) ICSID : ICSID : Investment: Investments in "Petrol" AD JSC, a local oil and gas company, through a shareholding in "Petrol Holding" AD. [28][29], Fossil fuel subsidy of coal power is expected to end by 2025. The aim is to limit the enrichment of the former owners, and the purpose is to supply the national economy with the necessary oil derivatives through the branches in the country. Tax calculation will be finalised at checkout. George Mitzov email address & phone number | Petrol Holding Project ", "Bulgaria will not hold talks to renew gas deal with Gazprom", https://www.azernews.az/business/211781.html, "Gazprom informs Bulgaria it will halt gas supplies as of April 27", "Russia halts gas supplies to Poland and Bulgaria", "Russia Gets Its Oil Into The EU Through Bulgaria. That was no surprise as Burgas was equipped with Soviet-era technology and depended on oil imported from Russia for refining. Binghamton: The International Business Press. Initially, the company used the warehouse of one of the shareholders, gradually investing and building new facilities. In 1999, Bulgaria sold 51% of Petrol for USD 52 million to International Consortium Bulgaria, which included Naftex Bulgaria Holding, OMV Austria and Petrol Holding Group. "LUKoil Neftochim Burgas is the only refinery on the planet that is losing money," Rumen Gechev, a lawmaker from the Bulgarian Socialist Party, told the assembly at the time. Bulgaria's Petrol Holding to invest 100m, may change ownership At least on paper. In 2003 the company received an award for issuer of the year, providing the most complete and accurate corporate information on the Bulgarian Stock Exchange. It buys crude oil from Russia's LUKoil and then sells it to the Burgas refinery. SOFIA (Bulgaria), November 14 (SeeNews) - Bulgaria's biggest fuel retailer Petrol Holding has replaced most of the members of its board of directors and has appointed Russian businessman De Ministry of Economy and Energy Bulgaria. Bulgarian Petroleum and Gas Association About us | Petrol AD - Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Additionally, without a domestic supply, the country is heavily dependent on imports of crude oil. These cookies do not store any personal information. 'Petrol Holding' was founded in 1995 in Varna, Bulgaria and it started as a company trading in crude oil and petroleum products. LITASCO SA. (2007, April 2). We track and compare the prices in all countries, petrol stations, brands, cities and regions in Europe, Over 10 000 active users, who track inaccuracies at the sites along with us, comment on and rate the petrol stations, I-4 . Find the most convenient station for you! Use of this website signifies your agreement to the Terms of service and Privacy policy. But the company has paid little if any tax over the years using an. BP Statistical Review of World Energy June 2015. Gasoline with guaranteed high quality from Petrol. 11, prof. "Asen Zlatarov" Str. At end-2013 the group operated 14 petrol terminals with a total storage capacity of 795,000 cubic meters and more than 330 gas stations across the country. Retrieved from http://www.balkanalysis.com/blog/2004/12/29/ambo-trans-balkan-pipeline-agreement-finally-signed/, Angelov, I. "This company ultimately determines both the price of crude oil and the amount that is exported. (2014). Rumen Ovcharov, who represented Bulgaria on the refinery's board between 2013 and 2017, suggested LUKoil's significant investment in Bulgaria won it certain unspoken privileges. . Retrieved from http://www.neftochim.bg/assets/components/lukoil/pdf/bg/financial_reports/2014.pdf, Lukoil Overseas. EurActiv.com digitGaps report on Transhold Bulgaria Holding JSC delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy . The projects included in the investment program of the company are developed through innovative solutions in compliance with the highest business standards. LUKoil Neftochim Burgas had paid the equivalent of 78 million euros in corporate tax, "but actually operated at a loss for the last three years (2013, 2014, 2015)," Zlatev noted. Retrieved from http://www.kalmykia.eu/2012/the-president-of-the-world-chess-federation-and-ex-president-of-republic-of-kalmykia-kirsan-ilyumzhinov-has-bought-a-52-5-stake-in-bulgaria%E2%80%99s-largest-fuel-company-petrol-holding/, Turkeys Samsun-Ceyhan Oil Pipeline Shelved. Retrieved from http://lukoil-overseas.com/, Mendes, A. J. On June 10, 1997, Petrol Joint Stock Company was re-established. Swiss-based Credit Mediterranee Acquires 52.5% Stake in Bulgaria's Bulgaria 2020 - IAEA Club Grifon is our thank you gesture to our loyal customers. Bulgaria's Petrol Holding to invest 100 mln euro, may - SeeNews Retrieved from http://www.energycharter.org/fileadmin/DocumentsMedia/Presentations/CBP-Straitsbypass.pdf, The President of the World Chess Federation and Ex-president of Republic of Kalmykia Kirsan Ilyumzhinov Has Bought a 52.5% Stake in Bulgarias Largest Fuel Company Petrol Holding. (n.d.). Financial values in the chart are available after Petrol AD report is purchased. Post-Soviet Affairs, 33(5), 335355. All Petrol Club Grifon members can take advantage of various promo offers and surprises! Russian Involvement in Eastern Europes Petroleum Industry, The Case of Bulgaria. LUKoil's operations in Bulgaria do not explicitly contradict or violate the country's legislation, experts say, and appear to depend on an accepted accounting method: transfer pricing. [11], Bulgaria is believed to have extensive natural gas resources[12] but, due to a successful campaign against hydraulic fracturing on land, only Black Sea exploration is permitted, such as at the Galata gas field. Here's a list of some of the top trending technologies and APIs used by Petrol Holding. In 1986 the association was transformed into a Petrol plant, which was included in the structure of the Chimsnab Economic Association. Their fuel types, prices, location, extras, photos and ratings all updated daily. Need ongoing access to company, industry or country information? 1504 Sofia Bulgaria, +359 2943 33 84 www.bpga.net. [4], Last edited on 17 December 2022, at 16:34, Learn how and when to remove this template message, "Petrol AD - SeeNews - Business intelligence for Southeast Europe", "Investegate |Petrol AD Announcements | Petrol AD: Annual Financial Report", https://en.wikipedia.org/w/index.php?title=Petrol_AD&oldid=1127958700. COPYRIGHT 2022 NEW EUROPE | ALL RIGHTS RESERVED. Recalculation of the capacity of 750,000 barrels per day to millions of tonnes per year was based on the density and specific gravity of Brent crude (835kg/m3). Ershov, a Russian national and co-owner of Petrol Holding, responded to a July 07 media assault of his rival, Mitko Sabev, focusing on the distant form of address of "foreign citizen Denis. Presentation of Chimimport AD. In 1999, Bulgaria sold 51% of Petrol for USD 52 million to International Consortium Bulgaria, which included Naftex Bulgaria Holding, OMV Austria and Petrol Holding Group. RT.com Russian oligarch buys Bulgarian Petrol Holding. But that may be unlikely as the company can use past posted losses, including the equivalent of 250 million euros in 2020 alone, to offset that. Novinite.com The refinery at Burgas is no longer owned exclusively by the Bulgarian state. Purchase this report to view the information. [10] Burning coal for heating pollutes the air in cities. Genka Shikerova has been an investigativecorrespondent in Sofia for RFE/RL's Bulgarian Service since 2020. History, Mission, Goals. Bulgaria, Organization of Executing the Obligations Following the Membership of the Republic of Bulgaria in the European Union in the Sphere of Compulsory Oil Stocks. Retrieved from https://www.energy-community.org/portal/page/portal/ENC_HOME/DOCS/622178/0633975AAD5C7B9CE053C92FA8C06338.PDF, Stefanov, S. (n.d.). Synergon holds majority stakes in enterprises operating in the following industries - trade and services, tourism . In K. Liuhto (Ed. The ratings also reflect weak corporate governance. Bulgaria's Petrol Holding to invest 100m, may change ownership. Gazprom Petrol Stations Network Opened in Bosnia and Herzegovina. digitGaps is . 'The Only Loss-Making Refinery On the Planet'. Home | Industrial Holding Bulgaria Nowadays members of the Association are:Bent Oil Ltd,Bulmarket DM OOD,V-Gas Bulgaria EAD,Gastrade Ltd,Eko Bulgaria EOOD, ZAEA-E EOOD, Litex AD, Lukoil Bulgaria EOOD, Lukoil Neftochim Burgas Ltd, NIS Ptrol EOOD, OMV Bulgaria EOOD, Petrol Ltd, Prista Oil Holding EAD, Rompetrol Bulgaria Ltd, Synergon Petroleum EOOD, Shell Bulgaria EAD. Among the first private companies in Bulgaria in terms of sales revenue; Among the largest private investors and taxpayers in the country; Among the companies with the largest capitalization on the Bulgarian Stock Exchange; Among the ten largest and most successful employers in the country; With more than 300 filling stations under the Petrol brand, evenly distributed throughout the country, the company has the most developed fuel distribution network in the Bulgaria. "Ten years without profit, when you are a giant on the Bulgarian markethow is this possible?" Over the past 15 years, the Burgas refinery has only reported a profit in three years: 2007, 2016, and 2017. However, long-term share of solar power is much lower. [37] It has been estimated that there is potential for at least another 2 GW by 2030. Perhaps Not For Long", "Coal power plant in Bulgaria is polluting rivers", "EU court rules Bulgaria unlawfully allowed coal-fired Maritsa East 2 plant to pollute the air", "Commitment about Coal-Fired Power Plants Should Be Put Off and Revised - PM Donev", "Bulgarian lawmakers back coal plants with vote to roll back green targets", "Experts: The Faster Bulgaria Closes Its Coal-fired Plants, the Cheaper Electricity Will Be", "Bulgaria could add 7 GW of renewable capacity by 2030 - industry", National Electricity Company Annual Report 2011, "Bulgaria to install 2.5 GW of solar, wind by 2024", "Bulgaria May Add 4.9 GW of Renewable Energy by 2031", "Artificial energy island would help Romania, Bulgaria tap offshore wind in Black Sea", "Turning up the heat on Europe's fuel poverty crisis", "Bulgaria has EUR 1.1 billion for energy renovation of residential, public buildings", "Bulgarian municipalities win EEA funds for geothermal heating, cooling", "Health Fears Mount Over Central Europe's 'Burn Everything' Heating Efforts", "Sofia Air Quality Index (AQI) and Bulgaria Air Pollution | IQAir", "Poland, Bulgaria, Defiant After Russia Cuts off Gas Supply", "Back to the Drawing Board: The Contours of Bulgaria's Climate Neutrality Roadmap", https://en.wikipedia.org/w/index.php?title=Energy_in_Bulgaria&oldid=1163452741, Pages displaying short descriptions of redirect targets via Module:Annotated link, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 4 July 2023, at 23:42. 31 2014. The group is also active in providing transportation services. Center for the Study of Democracy. [50]. [27], In early 2023 the government attempted to postpone Bulgarias EU commitment to reduce greenhouse gas emissions by 10% that year, because it did not want to close any coal-fired power stations. National Inventory Report 2014 for Greenhouse Gas Emissions. This list may not reflect recent changes . (2014). Current fuel prices in Bulgaria :: Fuelo.net (pp. "Tonight, a heavy shadow of foreign interests has fallen over a member of the European Union and NATO," the Customs Agency said in the statement. Join to connect Petrol Holding. . Retrieved from http://www.globalresearch.ca/articles/MEN307A.html, Ministry of Economy of the Republic of Bulgaria. Contact Details: Vatansever, A. Palgrave Macmillan, Cham. Goranov's explanation was met by skepticism and doubts, especially among members of the then-opposition Democratic Bulgaria coalition, which demanded the country's revenue agency release its audits of LUKoil Neftochim Burgas. In the modern market conditions with increasing competition and ever higher consumer expectations, Petrol AD believes that successful business and stable development are possible only by offering products and services of the highest quality, corresponding to the needs and expectations of its clients. Litasco is registered in Switzerland and is a subsidiary of LUKoil, which acts as its exclusive buyer and seller on the international market. On the 135th Anniversary of the Establishment of Diplomatic Relations Between the Countries. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. On July 1, 1992, a sole proprietorship joint-stock company Petrol with all state ownership was established. Retrieved from http://bpga.net/, Bulgarian Petroleum Refinery Ltd. (n.d.). Clear strategy on future developments and dividend policy, the use of bond market instruments, the application of international accounting standards and international audits, in addition to the use of state-of-the-art high-tech management and communication solutions, guarantee Petrol ADs shareholders that they are invested a company with huge potential. About 200 TWh of energy in Bulgaria is consumed each year which is about 28 MWh per person, somewhat over the world average of 20 MWh. (2013). "The difference goes to Litasco, which is registered in Switzerland, where [corporate] profit/income tax is very low and there are legal options that allow this profit not to be taxed and go directly to Russia," Vladimirov explained. Their fuel types, prices, location, extras, photos and ratings all updated daily. With more than 300 filling stations under the "Petrol" brand, evenly distributed throughout the country, the company has the most developed fuel distribution network in the Bulgaria. In 1990, on the basis of the new legislation, the plant was reorganized into the state company Petrol. This chapter partially builds on and develops a paper entitled Russias Energy Relations in Southeastern Europe: An Analysis of Motives in Bulgaria and Greece (Jiruek, Vlek, & Henderson, 2017), published in the Taylor & Francis journal Post-Soviet Affairs (www.tandfonline.com). Established in 1932, Petrol AD is a leader in the retail of fuels in Bulgaria. Now both "Neftochim" and "Petrol" are private and follow the rules of the market economy.Afterachieving this first goal, Bulgarian Petroleum and Gas Association directs its activities towards the co-operation with the State authorities and the other non-political organisations in the process of harmonization of Bulgarian legislation with theAcquis Communautaireas a step towards the integration of Bulgaria into theEuropean Union. Balkans Crisis Supports US Corporate Interests. You can search the whole website here. Interview: Trans-Balkan AMBO Oil Pipeline Still Viable Project. Bulletin on the State and Development of the Energy Sector in the Republic of Bulgaria. Combined with LIQUI MOLY and created with care for your car and nature. (n.d.). Vagit Alekperov, the president of LUKoil, has been treated almost like royalty during past visits to Bulgaria, meeting with top senior Bulgarian officials. So boasted Todor Zhivkov, then-communist leader of Bulgaria, when the country's first oil refinery at Burgas on the Black Sea coast launched operations in 1963. London: Enerdata. In: Russian Oil Enterprises in Europe. Retrieved from http://www.cpc.ru/. - COMMERCIAL DIREKTOR - Petrol Holding | LinkedIn According to Petrol AD and its Bulgarian legal counsel, the injunction does not affect the company's operations other than preventing the sale of these petrol stations, which are already mortgaged in favour of Lukoil Bulgaria under the loan agreement between Petrol Holding AD, Petrol's parent and Lukoil Bulgaria. Ivan Bedrov is the director of RFE/RL's Bulgarian Service. Former Bulgarian Prime Minister Boyko Borisov (left), Valentin Zlatev (center), and Vagit Alekperov (file photo). It all sounds like a bonanza for any business. Chimimport Plc owns 63.68% of shares in Zarneni Hrani Bulgaria AD (Chimimport Plc, 2013, p. 19). Today the company is among the largest Bulgarian public companies by market capitalization. Premium 100 octane experience for the fans of high-octane numbers. PDF FB Brochure 112408 The Top 5 Richest People in Bulgaria. [2] Petrol AD has adopted a two-tier management system with a Management Board and a Supervisory Board. Petrol AD Company Profile - Bulgaria | Financials & Key Executives - EMIS (n.d.). Lesser, I. O., Larrabee, F. S., Zanini, M., & Vlachos, K. (2001). Litasco is the key player in the transactions, Vladimirov explained. http://www.petrol.bg. As at 2022 IHB investments in shares and stakes in other companies . Zashev, P. (2006). Reuters.com Language links are at the top of the page across from the title. In this atmospherethe main taskof the Association was predestined - to contribute to the process of demonopolisation of the petroleum industry and to the promotion of the Constitutional right of free business initiative. Petrol AD - Wikipedia [1] The company was established in April 1932, in the capital city of Sofia, and privatized in 1999. (The remaining 0.15 percent is owned by more than 7,700 individuals and legal entities.). Retrieved from www.atlanticcouncil.org/images/files/publication_pdfs/403/BulgariaEnergy_ECIssueBrief.pdf, OAO NK Rosneft. The dominating position of the State owned biggest refinery "Neftochim" and the non-privatized distributor "Petrol" determined the unequal basis for the players on the petroleum market. Located at the foot of the mountain massif Vitosha, it is the administrative, cultural, economic, and educational center of the country and serves as the headquarters for Federal Bulgaria Management. Russian Companies in Forthcoming EU Member States: A Case of Lukoil in Bulgaria. [20], Bulgaria has the Kozloduy Nuclear Power Plant with two pressurized water reactors (together 2000 MW net). The chapter then concludes with an evaluation of the research indicators showing Russian activity in the oil sector of the country. Mitko Sabev, Chairman of Petrol Holding As the country's capital, Sofia is the largest city in Bulgaria. The oil products' retail market has been thoroughly liberalized, with many players including Petrol Holding AD (operating over 500 petrol stations through its subsidiaries Petrol AD, Naftex Petrol EOOD, and Petrol Gas OOD), Lukoil Bulgaria Ltd. (over 220 petrol stations), Shell Bulgaria EAD (over 110 petrol stations), OMV Bulgaria OOD (95 . How Russian Energy Giant LUKoil Makes Millions In Bulgaria But Pays Almost No Tax, What New Instability In Pakistan Means For China, A Short-Lived Mutiny And Its Long-Term Consequences. ! 2023 EMIS, an ISI Emerging Markets Group Company. The chapter starts with an introduction and then presents the upstream, midstream, and downstream sections of the countrys oil value chain. It is gradually expanding its activities, gas stations and oil depots are being built throughout the country. This category only includes cookies that ensures basic functionalities and security features of the website. Ministry of Environment and Water of the Republic of Bulgaria. ), Expansion or Exodus: Why Do Russian Corporations Invest Abroad? (2014). Find contact details for 700 million professionals. Retrieved from http://www.chevron.com/documents/pdf/annual-report-supplement-2015.pdf, Chimimport Plc. Bulgaria-Russia: The Past, the Present, and the Future. Why Putin Is Courting Bulgaria. On March 9, 1948, on the basis of the existing private and joint-stock companies, the state supply company Petrol was established. Quality and sustainability policy of Petrol AD. Bulgarian Petroleum and Gas Association was established in 1999 by the major companies active in the Petroleum and Gas industry in Bulgaria: "Petrol" AD, "Shell Bulgaria" EAD, "Overgas INC" AD, "Shell Gas Bulgaria" AD, "Toplivo" AD. Petrol AD - Wikiwand As a result, profits are transferred, on paper, from Bulgaria to Russia. Home | Petrol AD - 10 free leads on us Here's a list of some of the top trending technologies and APIs used by Petrol Holding. This story is part of New Europe's Premium content. Petrol Holding | LinkedIn Transhold Bulgaria Holding JSC Company Profile, Financial - digitGaps Reuters. 1. Request a demonstration of the EMIS service. Stakes in privately held companies: Nove Holding, majority shareholder in Bul Ins, sold his shares in Eurofootball. About Petrol Holding Petrol Holding, one of the leading Bulgarian companies with consolidated sales of BGN 1.5 billion, was founded in 1995 in Varna, Bulgaria. The mission of the management of Petrol AD is the development of the company to be a benchmark for the Bulgarian capital market. The companys management relies on high professionalism, ethics and fairness to its partners to achieve its ambitious corporate goals. And by nearly all metrics, LUKoil Neftochim Burgas, as the company is now called, is a huge success, generating some of the highest revenues in Bulgaria, totaling more than the equivalent of 40 billion euros ($45.7 billion) over the past 15 years. And LUKoil's operations in Bulgaria enjoy all that. Petrol Holding's board chairman Mitko Sabev holds the remaining 47.5% stake in the company. Bulgaria Energy Report. SOFIA (Bulgaria), November 21 (SeeNews) - Bulgaria's biggest fuel retailer Petrol Holding has drawn up a healing plan envisaging an investment of over 100 million euro ($134 million) and ownership changes, majority shareholder Kirsan Ilyumzhinov said at a press conference on Thursday. Necessary cookies are absolutely essential for the website to function properly. [7], The government has committed to phase out coal by 2038 but some miners say that a just transition has not been planned. Tom Vlek . We use cookies to tailor your experience, measure site performance and present relevant offers and advertisements. (n.d.). Russia's energy giant LUKoil appears to have a thriving business in Bulgaria, generating millions of dollars in refining revenue.
