EMEA News
UK Extends Sanctions Waiver for Lukoil Bunker Unit in Bulgaria
The UK government has postponed the application of sanctions on Russian energy firm Lukoil’s Bulgarian subsidiaries, including its marine fuels arm.
The UK’s Office of Financial Sanctions Implementation (OFSI) has extended the operational licence allowing the sanctioned Russian energy firm’s Bulgarian entities to continue operating until August 14, 2026, according to a notification updated on Tuesday.
The extension applies to Lukoil Bulgaria EOOD and Lukoil Neftochim Burgas AD, as well as Lukoil Aviation Bulgaria and Lukoil Bulgaria Bunker.
The previous licence, issued on November 14, 2025, had been due to expire on February 14, 2026.
Lukoil Bulgaria Bunker is a major physical supplier in Bulgaria, offering marine fuels in Varna and Burgas and at key ports along the Danube.
The extension comes as Lukoil continues to reshape its international portfolio.
Last month, the company said it had reached an agreement with US investment firm Carlyle to sell most of its overseas assets, a process driven by sanctions that have constrained its ability to operate internationally.
Lukoil Bulgaria Bunker forms part of those international assets slated for divestment.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 491.00 | 3.50 | 675.00 | 3.50 |
| Rotterdam | 457.00 | 0.50 | 691.50 | 1.00 |
| Houston | 472.50 | 5.00 | 667.00 | 8.00 |
| Fujairah | 478.50 | 6.50 | 750.00 | 3.00 |
| EMEA Average | 506.50 | 3.50 | 784.00 | 0.50 |
| Global 20 Ports Average | 516.50 | 6.00 | 772.50 | 3.50 |
| Global 4 Ports Average | 474.50 | 3.50 | 696.00 | 2.00 |
| Global Average Bunker Price | 547.50 | 7.00 | 803.00 | 3.50 |
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