Minister Malinov: I will insist on expanding the rights of the owners of class "A" shares

"The rights that the Bulgarian state has according to the share, class "A", in "Lukoil Neftohim Burgas" AD are too limited. I will insist that we have more options for information when ownership changes. The state should have the right to express an opinion on this type of process when it comes to a company - part of the country's national security". This is what the Minister of Energy Vladimir Malinov said regarding the information about the potential sale of the Burgas refinery to a Qatari-British consortium.

According to Minister Malinov, "Lukoil Neftohim Burgas" AD is a strategic object as part of the country's national security, and the state-owned share, class "A" (so-called Golden share) does not give it the right to veto decisions related to with a change of ownership.

"I believe that the change in the ownership of such a strategic company affects both the fuel market and the revenues in the budget. Therefore, it is completely natural that the state should also have a say in such a potential deal," Minister Malinov added.

After an inquiry sent by Minister Vladimir Malinov from Litasco SA (a member of the Lukoil group of companies), a shareholder in the "Lukoil Neftohim Burgas" refinery in Bulgaria, they state that there are no talks with the aforementioned Qatari-British consortium.

"Lukoil" continues to be committed to conducting a transparent process and will continue to inform the Bulgarian authorities", the response to the Ministry of Energy also states.