ATHENS, Nov 11 (Reuters) - Bulgaria has one month of
gasoline supplies left as it braces for the start of U.S.
sanctions on Russia's Lukoil, which owns the country's largest
oil refinery and most storage and pipeline infrastructure, the
chairman of the state reserves agency said on Tuesday.
The U.S. and Britain last month imposed sanctions on Lukoil
and Rosneft, Russia's two biggest oil
companies, over Moscow's war in Ukraine, threatening their
operations that still sprawl across Europe.
The U.S. sanctions, which are scheduled to begin on November
21, have raised concerns about fuel supplies ahead of winter in
Bulgaria, where Lukoil runs the Burgas refinery, a key part of
the company's foreign business empire, and hundreds of petrol
stations.
35 DAYS RESERVES OF GASOLINE, 50 OF DIESEL
Bulgaria has reserves of gasoline for about 35 days and over
50 days of diesel, Assen Asenov was quoted as saying by the
Bulgarian BTA news agency.
Energy analysts said that the country has more stocks of
crude and oil products outside Bulgaria but that it must import
those before Lukoil's pipeline network falls under the
sanctions.
"50% of the ready fuels are in other EU countries and some
of the crude as well, which means that the government needs to
activate these contracts ASAP," said Martin Vladimirov, director
of the Energy and Climate Program at the Centre for the Study of
Democracy in Sofia.
Bulgaria, which will adopt the euro currency on January 1
2026, has made moves to secure supplies since the sanctions were
announced last month. It temporarily banned exports of some
fuels, mainly diesel and aviation fuel, to EU member states.
Last week, its parliament adopted legal changes allowing it
to take over the refinery and sell it to a new owner to shield
the plant from U.S. sanctions.
This week, Bulgarian authorities conducted inspections and
implemented security measures at the Burgas refinery in what
authorities described as a measure to preserve critical
infrastructure.