LUKOIL Neftochim Burgas
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LUKOIL Neftochim Burgas (ЛУКОЙЛ Нефтохим Бургас), based in Burgas, Bulgaria, is the lagrest oil refinery in Southeastern Europe and the largest industrial enterprise in Bulgaria. Owned by Russian oil giant LUKOIL, the refinery provides for 7% of the country's GDP, as well as for 25% of the revenues to the state budget. LUKOIL Neftochim Burgas is the leading producer and supplier of liquid fuels, petrochemicals and polymers for Bulgaria and one of the leading companies in its field in Europe.
On 12 October 1999 LUKOIL acquired 58% of Neftochim Burgas for $101 million in what would later be labeled the privatisation deal of the year in Bulgaria. LUKOIL also agreed to invest a further $408 million until 2005.
LUKOIL Neftochim Burgas employs more than 8,500 people, the average salary being the highest among the industrial companies in the country. The refinery works with entirely own-produced electric power since 23 May 2000 and uses water from the nearby Lake Mandrensko.
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