Bulgaria's Lukoil Refinery Slashes Costs By $8 Million

Bulgaria's Lukoil Refinery Slashes Costs By $8 Million

Bulgaria’s Lukoil Neftohim Burgas refinery has saved $8 million in just two months after dropping its Swiss-based trading intermediary Litasco SA, with Special Commercial Administrator Rumen Spetsov telling Russia’s parliamentary committee that the savings came mainly from scrapping commission fees previously paid to the middleman between the refinery and Lukoil’s oil reserves, Novinite reported on Thursday. Spetsov said the refinery's financial…