Petrotel refinery is preparing to resume operations after the exemption from sanctions.

The former Minister of Energy, Bogdan Ivan, announced that the Petrotel-Lukoil refinery could resume operations following a letter received from the American authorities, which confirms compliance with the necessary criteria. Ivan explained that once the final decision is made and contracts for the supply of compatible oil are signed, the refinery could start producing fuel.

It is important to mention that Petrotel will not import oil from the Russian Federation, but from other suppliers in Kazakhstan and Azerbaijan, thus ensuring compatibility with the refinery's facilities. In April, Ivan announced that he received official confirmation from the US Government for the exemption from sanctions imposed on Lukoil, thus allowing the refinery to restart within 45 days.

Lukoil, a major player in the oil market, has been sanctioned by the US, and its international assets are estimated at 22 billion dollars. The US Treasury has issued licenses for certain transactions with Lukoil's refineries in Bulgaria, including Lukoil Neftohim Burgas JSC.