Russian Energy Giant LUKOIL Makes Millions In Bulgaria But Pays Almost No Tax – Analysis
“The champion of our petrochemical industry.” So boasted Todor Zhivkov, then-communist leader of Bulgaria, when the country’s first oil refinery at Burgas on the Black Sea coast launched operations in 1963.
Nearly six decades later, Bulgaria’s planned economy may be long gone, but the so-called champion continues refining oil into gasoline and other petroleum products. It is not only the largest such energy enterprise in Bulgaria but the entire Balkans region.