. (n.d.). Owner of Vabo-1, casinos . Retrieved from http://www.rosneft.com/, Shrewd Move: President of FIDE Buys into Bulgarian Fuel Major Petrol. COPYRIGHT 2022 NEW EUROPE | ALL RIGHTS RESERVED. 12 Targovska Str Transhold Bulgaria Holding JSC Company Profile, Financial - digitGaps The remaining 47.5% is owned by Bulgarian businessman Mitko Sabev (Angelov, 2012). Ivan Bedrov is the director of RFE/RL's Bulgarian Service. Today, the main shareholder in LUKoil Neftochim Burgas is Litasco with 89.97 percent and the LUKoil Oil Company with 9.88 percent. The management of Petrol AD is guided by the pursuit of high quality. Petrol AD Company Profile - Bulgaria | Financials & Key Executives - EMIS Sabotaging the boss in the European Commission or just flirting with the Balkan strongman? In the modern market conditions with increasing competition and ever higher consumer expectations, Petrol AD believes that successful business and stable development are possible only by offering products and services of the highest quality, corresponding to the needs and expectations of its clients. You can enter the name of city, brand petrol station and they will be sorted according to your location or just search for parking, car wash or CNG. The mission of the management of Petrol AD is the development of the company to be a benchmark for the Bulgarian capital market. Rumen Ovcharov, who represented Bulgaria on the refinery's board between 2013 and 2017, suggested LUKoil's significant investment in Bulgaria won it certain unspoken privileges. . On February 18, 1948, the Grand National Assembly passed a law on the state monopoly over petroleum products. Their fuel types, prices, location, extras, photos and ratings all updated daily. Presentation of Chimimport AD. Novinite.com Reuters.com Retrieved from http://pipelinesinternational.com/news/ambo_pipeline_deal_clears_another_hurdle/011027/, AMBO Trans-Balkan Pipeline Agreement Finally Signed. NewEurope.eu. Retrieved from http://www.dw.com/en/why-putin-is-courting-bulgaria/a-18663257, BP plc. Club Grifon is our thank you gesture to our loyal customers. (2006). Today, the main activity of the company and its subsidiaries is wholesale and retail distribution of petroleum products. Goranov's explanation was met by skepticism and doubts, especially among members of the then-opposition Democratic Bulgaria coalition, which demanded the country's revenue agency release its audits of LUKoil Neftochim Burgas. In response to this, Bulgaria, is currently discussing importing liquefied natural gas through Turkey and Greece. On April 1, 1932, the Bulgarian Joint Stock Company Petrol was established. Former President of the Republic of Kalmykia and President of the World Chess Federation (FIDE), Kirsan Ilyumzhinov, became a majority owner of the largest Bulgarian fuel distributor "Petrol Holding". Balkanalysis.com Russian Oil Enterprises in Europe pp 85103Cite as. During those years, Bulgaria's political elite have enjoyed chummy ties with LUKoil's Bulgarian representatives. [20] Neftochim Burgas Refinery, the biggest oil refinery on the Balkans, refines a large amount of the crude oil that eventually reaches the Bulgarian market as refined petroleum. 2023 EMIS, an ISI Emerging Markets Group Company. . Owned by Hamburg-based Marquard & Bahls AG. Over the past 15 years, the Burgas refinery has only reported a profit in three years: 2007, 2016, and 2017. It is mandatory to procure user consent prior to running these cookies on your website. [1], Bulgarian Energy Holding owns subsidiaries operating in different energy sectors: electricity: Kozloduy nuclear power plant, Maritsa East 2 thermal power plant, NEK EAD and Elektroenergien sistemen operator (ESO); natural gas: Bulgargaz and Bulgartransgaz; coal mining: Mini Maritsa Iztok (Maritsa East mines). Perhaps Not For Long", "Coal power plant in Bulgaria is polluting rivers", "EU court rules Bulgaria unlawfully allowed coal-fired Maritsa East 2 plant to pollute the air", "Commitment about Coal-Fired Power Plants Should Be Put Off and Revised - PM Donev", "Bulgarian lawmakers back coal plants with vote to roll back green targets", "Experts: The Faster Bulgaria Closes Its Coal-fired Plants, the Cheaper Electricity Will Be", "Bulgaria could add 7 GW of renewable capacity by 2030 - industry", National Electricity Company Annual Report 2011, "Bulgaria to install 2.5 GW of solar, wind by 2024", "Bulgaria May Add 4.9 GW of Renewable Energy by 2031", "Artificial energy island would help Romania, Bulgaria tap offshore wind in Black Sea", "Turning up the heat on Europe's fuel poverty crisis", "Bulgaria has EUR 1.1 billion for energy renovation of residential, public buildings", "Bulgarian municipalities win EEA funds for geothermal heating, cooling", "Health Fears Mount Over Central Europe's 'Burn Everything' Heating Efforts", "Sofia Air Quality Index (AQI) and Bulgaria Air Pollution | IQAir", "Poland, Bulgaria, Defiant After Russia Cuts off Gas Supply", "Back to the Drawing Board: The Contours of Bulgaria's Climate Neutrality Roadmap", https://en.wikipedia.org/w/index.php?title=Energy_in_Bulgaria&oldid=1163452741, Pages displaying short descriptions of redirect targets via Module:Annotated link, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 4 July 2023, at 23:42. Join to connect Petrol Holding. As a result of the mass privatization, about 25% of the company's shares become the property of privatization funds and industrial shareholders. Pro Force helps you feel the true power of your diesel car. (2013). Combined with LIQUI MOLY and created with care for your car and nature. [50]. At least on paper. It is not only the largest such energy enterprise in Bulgaria but the entire Balkans region. On March 9, 1948, on the basis of the existing private and joint-stock companies, the state supply company Petrol was established. Enerdata. The Top 5 Richest People in Bulgaria. Petrol Holding | LinkedIn Retrieved from http://www.neftochim.bg/assets/components/lukoil/pdf/bg/financial_reports/2014.pdf, Lukoil Overseas. RFE/RL requested comment from Zlatev about whether Bulgarian officials had ever raised tax issues with him. Information about over 50 000 petrol stations from 26 countries in Europe. We value our customers more than anything. (PDF) Portfolio optimization of investment decisions on - ResearchGate In this atmospherethe main taskof the Association was predestined - to contribute to the process of demonopolisation of the petroleum industry and to the promotion of the Constitutional right of free business initiative. (2007, April 2). Gasoline with guaranteed high quality from Petrol. LUKoil Bulgaria further said that the management of Petrol Holding had repeatedly refused to negotiate the rescheduling of the debt payments. " ", Petrol AD, Some Rights Reserved. Nowadays members of the Association are:Bent Oil Ltd,Bulmarket DM OOD,V-Gas Bulgaria EAD,Gastrade Ltd,Eko Bulgaria EOOD, ZAEA-E EOOD, Litex AD, Lukoil Bulgaria EOOD, Lukoil Neftochim Burgas Ltd, NIS Ptrol EOOD, OMV Bulgaria EOOD, Petrol Ltd, Prista Oil Holding EAD, Rompetrol Bulgaria Ltd, Synergon Petroleum EOOD, Shell Bulgaria EAD. Chimimport Plc owns 63.68% of shares in Zarneni Hrani Bulgaria AD (Chimimport Plc, 2013, p. 19). All rights reserved. (2003, July 29). Then-Finance Minister Vladislav Goranov explained that the National Revenue Agency had twice registered huge negative results from the refinery. The aim is to limit the enrichment of the former owners, and the purpose is to supply the national economy with the necessary oil derivatives through the branches in the country. [7], The government has committed to phase out coal by 2038 but some miners say that a just transition has not been planned. Retrieved from http://www.iea.org/, Ivanova, I., & Tsolova, T. (2011, July 27). Deputy Chairman of the Management Board, Executive Director: Member of the Management Board, Executive Director: This page was last edited on 17 December 2022, at 16:34. The following 8 pages are in this category, out of 8 total. The company's roots were established as a trader in crude oil and oil products to emerge at present day as the owner through Petrol AD of the country's Over the years, it widened its scope of activity and, currently, it invests in leading industries of the Bulgarian economy. [30] Bulgaria aims to phase out coal power (which is low quality lignite[31]) by 2038 or earlier. Retrieved from http://www.bp.com/content/dam/bp/en/corporate/pdf/bp-statistical-review-of-world-energy-2015-full-report.pdf, Bulgaria Ousted from Russias South Stream Pipe. London: GMB Publishing Ltd. Williams, M., & Tsolova, T. (2014, April 10). http://www.petrol.bg. Among those that have expressed interest in the project are Overseas Private Investment Corporation (US Development Agency), Eximbank, Credit Suisse First Boston, European Union, European Bank for Reconstruction and Development, and others. (n.d.). Bulgaria. Four old and unsafe VVER-440/230 reactors (4 x 408 MW net) were taken off-line in 2004 and 2007). More than 20 years later, however, it appears the Bulgarian government rarely if ever has interjected its voice in any of the decisions taken in Bulgaria by LUKoil. Petrol Holding AD Company Profile, Financial and Strategic SWOT She worked for many years at bTV and Nova TV. maintenance of fuel facilities and filling stations. Pages in category "Oil and gas companies of Bulgaria". (The remaining 0.15 percent is owned by more than 7,700 individuals and legal entities.). (2013, April 23). Petrol Holding is a Bulgarian investment company operating in various business sectors oil products distribution, transportation, financial services, real estate, leisure and hospitality, power generation, etc. Additionally, without a domestic supply, the country is heavily dependent on imports of crude oil. 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Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days. Website by, . The Association was founded under the conditions of State monopoly in the petroleum industry. Retrieved from http://www.novinite.com/articles/107574/Borisovs+Blind+Mans+Bluff+with+Putin, International Energy Agency. But the company has paid little if any tax over the years using an. Fitch Affirms Bulgaria's Petrol AD at 'B-' despite Lukoil's claim If you need more lookups, subscriptions start at $39 USD/month. The chapter then concludes with an evaluation of the research indicators showing Russian activity in the oil sector of the country. Located at the foot of the mountain massif Vitosha, it is the administrative, cultural, economic, and educational center of the country and serves as the headquarters for Federal Bulgaria Management. Retrieved from http://www.bpr-bg.com/, Caspian Pipeline Consortium. Home | Petrol AD - SeeNews. Chevron Corporation. One key aspect, however, has changed: ownership. On July 1, 1999, after nearly two years of privatization procedures, the sale of the majority stake was completed. [19], Most oil products are consumed by transport. 109128). Annual Activity Report 2014. Home | Industrial Holding Bulgaria That was no surprise as Burgas was equipped with Soviet-era technology and depended on oil imported from Russia for refining. Retrieved from http://www.chimimport.bg/en/, Chimimport Plc. You also have the option to opt-out of these cookies. 21.11.2013 Source: SeeNews; FFBH Petrol Holding, the majority owner of fuel retailer Petrol (5PET), has drawn up a reorganisation plan envisaging an investment of over 100m and ownership changes, majority shareholder Kirsan Ilyumzhinov said at a press conference. (2012, June 21). You can search the whole website here. Over the years, LUKoil solidified its control over Burgas, buying up more shares, in particular those handed out to employees at the time of privatization. In 1999, Bulgaria sold 51% of Petrol for USD 52 million to International Consortium Bulgaria, which included Naftex Bulgaria Holding, OMV Austria and Petrol Holding Group. No credit card required. Zashev, P. (2006). History, Mission, Goals. Their fuel types, prices, location, extras, photos and ratings all updated daily. Bulgarian Finance Minister Arsen Vassilev told RFE/RL that the audit of LUKoil Neftochim Burgas was not yet finished, adding that Prime Minister Kiril Petkov and other senior officials met in December 2021 with Vadim Vorobyov, first executive vice president of LUKoil. digitGaps report on Petrol Holding AD delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy. These detailed sections provide much-needed insight into the oil sector of the country and are followed with information on Russian involvement and operations in its oil market. (2014). 734 Employees. Kalmykia.eu. Stakes in privately held companies: Nove Holding, majority shareholder in Bul Ins, sold his shares in Eurofootball. (2014). NIS Raises Count of Gazprom Fuel Stations in Serbia to 13. Try our innovation! ", "Bulgaria is rich with shale gas, but lacks political will to exploit it", "The New Power Map: World Politics After the Boom in Unconventional Energy", "How Putin Forged a Pipeline Deal That Derailed", "Could prolific Turkish gas play extend into Bulgarian waters? The 450 Petrol fuel outlets have nit experienced any supply problems, the fuel retailer said on Monday. [46][47][48], Russian gas from Turkstream transits to Serbia and Hungary. [49], In 2023 the Center for the Study of Democracy made a plan for climate neutrality. "The difference goes to Litasco, which is registered in Switzerland, where [corporate] profit/income tax is very low and there are legal options that allow this profit not to be taxed and go directly to Russia," Vladimirov explained. Absolute financial data is included in the purchased report. Subsequently, Naftex Bulgaria Holding AD increased its stake in Petrol AD by buying out the shares of the other participants in the consortium. digitGaps report on Transhold Bulgaria Holding JSC delivers a detailed in-depth and comprehensive insights of the company, its history, corporate strategy, its businesses and structures, and company operations by examining its performance in local market and global economy . Retrieved from http://en.interaffairs.ru/experts/542-bulgaria-russia-the-past-the-present-and-the-future-on-the-135th-anniversary-of-the-establishment-of-diplomatic-relations-between-the-countries.html, Elliott, S. (2011, November 11). Genka Shikerova has been an investigativecorrespondent in Sofia for RFE/RL's Bulgarian Service since 2020. Petrol AD (Bulgarian: ) is a Bulgarian oil distribution company which maintains the largest network of filling stations in the country, consisting of more than 330 retail outlets, 80 petrol depots and three petrol port terminals. "Ten years without profit, when you are a giant on the Bulgarian markethow is this possible?" Petrol AD (Bulgarian: ) is a Bulgarian oil distribution company which maintains the largest network of filling stations in the country, consisting of more than 330 retail outlets, 80 petrol depots and three petrol port terminals. Current fuel prices in Bulgaria :: Fuelo.net [10] Burning coal for heating pollutes the air in cities. Correspondence to "In the case of LUKoil, the company produces crude oil, delivers it to the Burgas refinery, and then sells fuel," Martin Vladimirov, an analyst of the Sofia-based Center for the Study of Democracy, told RFE/RL's Bulgarian Service. SOFIA (Bulgaria), November 14 (SeeNews) - Bulgaria's biggest fuel retailer Petrol Holding has replaced most of the members of its board of directors and has appointed Russian businessman De Retrieved from http://www.energycharter.org/fileadmin/DocumentsMedia/Presentations/CBP-Straitsbypass.pdf, The President of the World Chess Federation and Ex-president of Republic of Kalmykia Kirsan Ilyumzhinov Has Bought a 52.5% Stake in Bulgarias Largest Fuel Company Petrol Holding. Borisovs Blind Mans Bluff with Putin. Presentation of Deputy Head Director of the State Agency State Reserve and War-time Stocks. IHB is a holding company managing a portfolio of companies. In 1990, on the basis of the new legislation, the plant was reorganized into the state company Petrol. 'Petrol Holding' was founded in 1995 in Varna, Bulgaria and it started as a company trading in crude oil and petroleum products. Website by, . [33], Wind power generated 2% of electricity in 2023. Nowadays Bulgarian petroleum and gas association take part in working groups toMinistry of Iconomics, Energy and Tourism, Ministry of Finance, Customs Agency. [28][29], Fossil fuel subsidy of coal power is expected to end by 2025. Deutsche Welle. Find the most convenient station for you! Tanov later spearheaded efforts to install meters on pipelines connected to the Burgas refinery, in a bid to better monitor exactly how much oil was coming into the refinery. LUKoil Neftochim Burgas had paid the equivalent of 78 million euros in corporate tax, "but actually operated at a loss for the last three years (2013, 2014, 2015)," Zlatev noted. (pp. Fuels Our fuels for your needs Retrieved from http://lukoil-overseas.com/, Mendes, A. J. Every visit to a Petrol filling station is more rewarding with our discounts! In 2020, the amount was a whopping 500 million lev ($292 million). Credit Mediterranee is owned by the former president of the Republic of Kalmykia and multi-millionaire businessman Kirsan Ilyumzhinov. Tom Vlek . Despite the flurry of activity, Vladimirov of the Center for the Study of Democracy, is doubtful much if anything will change. Postal Code: 5500. [41] It has been estimated that there is potential for at least another 4 GW by 2030.[42]. The chapter starts with an introduction and then presents the upstream, midstream, and downstream sections of the countrys oil value chain. On August 4, 1999, the company was privatized by the consortium led by Naftex Bulgaria Holding AD and including OMV (Austria) and Petrol Holding Group AD. Bulgaria-Russia: The Past, the Present, and the Future. 10 free leads on us Here's a list of some of the top trending technologies and APIs used by Petrol Holding. Palgrave Macmillan, Cham. LUKoil, the second-largest Russian energy company after Gazprom, manages and owns oil and gas fields, as well as refineries, trading in energy in dozens of countries. Swiss-based Credit Mediterranee Acquires 52.5% Stake in Bulgaria's Bulgarian communist leader Todor Zhivkov officially opens the Burgas refinery in 1963.