Lukoil secures finance to update Bourgas refinery

International law firm Akin Gump has advised Lukoil Neftohim Burgas, a Bulgarian subsidiary of Russia’s Lukoil, in a €420mn financing to upgrade its oil refinery in Bourgas, Bulgaria, including the construction of a heavy-residue hydrocracking complex. The project is reported to be one of the largest financings to a private company operating in the fuel and energy sector in Bulgaria to date.

 

Financing was provided by BNP Paribas (Suisse), ING Bank, Société Générale and UniCredit; backed by SACE, the Italian export credit agency.