Lukoil wants to buy Bulgaria's Petrol

Tourism

Lukoil Oil Company plans to increase twice its share on Bulgaria's market in a period of 3 years, by constructing and purchasing 200 new petrol stations.

For the purpose the company will invest $300 million (€224 million). Object of a take over could become the Bulgarian company Petrol. Petrol operates 450 retail stations, 80 petrol depots and 3 harbor terminals.

Lukoil estimates its share on Bulgarian land to 17% at the beginning of last year.

By that time the Russian company had 170 petrol stations. After the contract between Lukoil and Petrol (2001) for joint activity, both companies controlled 37% of the local market. (petrolplaza.com)

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