Bulgarian Regional Minister Assuages Fears of Price Hikes over Lukoil Crisis

Business | July 30, 2011, Saturday // 14:55|  views

The Minister of Regional Development and Public Works, Rosen Plevneliev, is the top rated Minister from the cabinet of the ruling Citizens for European Development of Bulgaria, GERB, party. Photo by BGNES

The halted production of bitumen by Lukoil Bulgaria will not lead to an increase of the construction cost of Trakiya highway in southern Bulgaria.

The statement was made Saturday by the Minister of Regional Development and Public Works, Rosen Plevneliev, who said there are large producers of bitumen in neighboring Greece and Romania.

The comment comes on the heels of news Bulgaria's Neftochim, the only oil refinery in the country, controlled by Russia's giant Lukoil, has started Wednesday to reduce crude processing to effectively stop production after the customs office revoked its licenses. In addition to fuels, the refinery makes bitumen for asphalt.

"Bulgaria is in Europe, and Europe has free competition – one of our projects in the Danube city of Ruse uses bitumen from Romania and the price is the same as Lukoil's. If one company is experiencing difficulties, this is a chance for others to up their production," Plevneliev pointed out, adding the State has enough reserves of kerosene in order to react.

The Minister further explained the problem with Lukoil is simple – in the country, on one side, there is a government which is enforcing the rules, and on the other – companies that need to understand they must abide by these rules.

Regarding the declaration of the right-wing Blue Coalition, submitted in the Parliament, on the grounds 30 pages were missing from the Minister's report on the Trakiya highway, Plevneliev said the right-wing had seemingly formed an election coalition with the left-wing Bulgarian Socialist Party, BSP.

"We can counter these attempts to politicize the construction of the highway by scores of expert reports of people who are legally responsible. I rather trust those who are unbiased and follow the law. No one had asked officially to have a copy of this report," the top rated Minister from the cabinet of the ruling Citizens for European Development of Bulgaria, GERB, party, stressed.

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Tags: Minister of Regional Development and Public Works, Rosen Plevneliev, GERB, Trakiya Highway, Blue Coalition, BSP, bitumen, Economy and Energy Minister, excise storage, license, rule, Vanyo Tanov, Customs Agency, Lukoil, Valentin Zlatev, Boiko Borisov, refinery, Simeon Djankov, Neftochim, Bulgaria

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