Oil Archives

The Bulgarian government on Thursday became hostage to the decision on the future of the Lukoil Neftochim refinery in Burgas, with the GERB and DPS parties, which have so far supported the decision, insisting on an immediate end to imports of Russian crude despite the risks to the local oil market.

Russian oil tankers are not targeted in the European Commission's proposal for tightening the implementation of a price cap on the country's crude oil, EU diplomats said on Wednesday (15 November).

The EU struck an informal agreement on its first ever law to tackle methane emissions in the energy sector, following late-night negotiations in Brussels that will oblige importers of fossil fuels to match minimum standards from 2030.

Oil and gas producers warn the EU's draft methane regulation will be "impossible to implement" in its current form as legislators near completion of draft new rules to crack down on methane leaks from fossil fuels.

Some types of fuel made from Russian oil can be exported to the EU under current rules, Lukoil Bulgaria said on Thursday, denying accusations of violating international oil sanctions against Russia.

The EU’s energy taxation directive (ETD), a proposal to bring energy tax rules in line with the bloc’s green goals, remains at a standstill more than two years after it was first proposed.

With food systems reported to account for 15% of global fossil fuel use, a new study raised the alarm on food production reliance on petrochemicals ahead of the UN COP28 climate conference at the end of November.

The leading private radio station RMF FM has received money to promote the activities of Orlen S.A., one of Poland's largest state-owned multinational oil refiners and petrol retailers, casting a shadow on the independence of the country's media market.

The rapid withdrawal of the derogation for the import of Russian crude oil for Russian company Lukoil’s Bulgarian refinery has the potential to lead to a crisis in the fuel market in the Balkan region, Bulgarian Prime Minister Nikolai Denkov warned in an exclusive interview for Euractiv Bulgaria.

The European Parliament’s Environment Committee voted Tuesday (24 October) to support Commission targets to reduce the carbon footprint of heavy-duty vehicles (HDVs), making it a near certainty that clean trucks will make up the majority of new HDVs post-2040.

Lukoil’s refinery in Bulgaria promised Bulgarian Prime Minister Nikolay Denkov to pay almost twice as much tax to the state after the Bulgarian parliament threatened to ban Russian crude oil imports by sea, DPS parliamentary group leader Delyan Peevski (Renew) announced on Monday.

Bulgarian GERB and DPS parties have threatened to immediately cut off Russian oil supplies to Lukoil’s Burgas refinery while handing over operational control of its Bulgarian business to the government.

Bulgarian Prime Minister Nikolay Denkov confirmed on Thursday that there is interest in the sale of Lukoil Neftochim Burgas, which is the largest refinery in the Balkans and is managed by the Russian company Lukoil through its company in Switzerland – Litasco.

The Czech government has approved a draft revised National Energy and Climate Plan (NECP), which aims to phase out coal by 2033 and oil and gas by 2050.

The oil pipeline project from the Greek port of Alexandroupolis to the Bulgarian port of Burgas is on the agenda of Bulgaria, Greece, and Romania in the context of greater energy, transport and digital connectivity in Southeast Europe.

State-owned petrol giant Orlen S.A. is using military oil tankers to deliver fuel to stations after reduced prices led to major shortages all over the country, the company announced over the weekend.

The Bulgarian parliament abandoned its intention to ban the import of Russian oil by the end of this year and decided that this should happen by the end of October 2024.

Britain has given the go-ahead for one of its biggest new oil and gas projects in years, Equinor's North Sea Rosebank field, saying energy security was the priority despite opposition from environmentalists.

Countries addressing a climate summit during the UN General Assembly criticised big polluters for not doing more to tackle global warming, while UN Secretary-General Antonio Guterres said time was running short thanks to the "naked greed" of fossil fuel interests.

France will seek support from other European Union countries for a minimum price on flights in Europe in a bid to reduce the aviation sector's contribution to climate change, Transport Minister Clément Beaune has said.

The European Parliament gave the green light on Wednesday (13 September) to new rules that will increase the quantity of sustainable jet fuel in flights departing from EU airports, marking a major step towards reducing emissions from the notoriously carbon-intensive transport mode.

The registration of new cars with internal combustion engines running on e-fuels should be allowed after 2035, even if the fuels are not 100% climate neutral, German transport Minister Volker Wissing (FDP/Renew Europe) said at an e-fuels conference on Monday (4 September).

The government currently provides larger subsidies than previously thought despite its promise to phase out fossil fuel subsidies by 2025, a recent study by several climate action groups shows.

Bulgarian political stability is threatened by a fuel market crisis as the ruling coalition wants to cut dependence on Russian oil, which would mean clashing with Russian private company Lukoil, which owns the Burgas refinery and has a monopoly on …