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. " ", Petrol AD, Some Rights Reserved. The remainder is generated by fossil fuels. Experience COMMERCIAL DIREKTOR Petrol Holding View 's full profile See who you know in common Get introduced Contact directly . But the company has paid little if any tax over the years using an. Petrol Holding AD was founded in 1995 and is based in Varna, Bulgaria. 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. About us | Petrol AD - (2014). The chapter starts with an introduction and then presents the upstream, midstream, and downstream sections of the countrys oil value chain. (2013, April 23). It was transformed into a holding structure in 1997. Vasil Bojkov. In 2011, Vanyo Tanov, at the time the head of the Bulgarian Customs Agency, complained the refinery was a "zero taxpayer." That was no surprise as Burgas was equipped with Soviet-era technology and depended on oil imported from Russia for refining. "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. Pipelines International. Petrol Holding is a Bulgarian investment company operating in various business sectors - oil products distribution, transportation, financial services, real estate, leisure and hospitality, power. 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. Need ongoing access to company, industry or country information? (n.d.). Retrieved from http://www.dw.com/en/why-putin-is-courting-bulgaria/a-18663257, BP plc. Later, local private Naftex Bulgaria Holding acquired the stakes of the other owners in the consortium. On March 9, 1948, on the basis of the existing private and joint-stock companies, the state supply company Petrol was established. Bulgaria's Petrol Holding To Team Up with U.S. Federal Development for Owner of Vabo-1, casinos . The country imported over 90% of its natural gas from Russia via the Turk Stream pipeline under a 10-year contract,[18] which expired at the end of 2022. ", "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? We value our customers more than anything. 0.23%. You also have the option to opt-out of these cookies. Retrieved from http://www.chevron.com/documents/pdf/annual-report-supplement-2015.pdf, Chimimport Plc. In 2020, the amount was a whopping 500 million lev ($292 million). Their fuel types, prices, location, extras, photos and ratings all updated daily. 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). Headquarters All projects in the companys investment program are implemented through innovative solutions in accordance with the highest international standards for control, quality, and environmental sustainability. 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 . Additionally, without a domestic supply, the country is heavily dependent on imports of crude oil. The group is also active in providing transportation services. Retrieved from http://www.kalmykia.eu/2012/the-president-of-the-world-chess-federation-and-ex-president-of-republic-of-kalmykia-kirsan-ilyumzhinov-has-bought-a-52-5-stake-in-bulgaria%E2%80%99s-largest-fuel-company-petrol-holding/, Turkeys Samsun-Ceyhan Oil Pipeline Shelved. The bidder was LUKoil Petrol, a subsidiary of the Russian energy conglomerate, and the price paid was $101 million. Here's a list of some of the top trending technologies and APIs used by Petrol Holding. Commission secures ambitious EU negotiating mandate for the COP27 on Climate and COP15 on Biodiversity, Legal battle between David and Goliath energy firms heats up, Critical mineral sourcing must also be sustainable for the EUs clean energy transition, CEE cross-border cooperation key to competitiveness and innovation leadership, Bidens choice takes the reins at the American Embassy in Athens, Interview: Information Technologies to drive Uzbekistans development, attract foreign investors, Red Sea Film Festival honors in Venice women protagonists of Arab cinema, Interview: Polish film showing animal gentle soul is awarded in Cannes, Interview : Belgian winner for jury prize in Cannes, The cultural wealth of the neoclassicial buildings of the Greek city of Pyrgos. And that describes perfectly LUKoil's operations in Bulgaria. About 200 TWh of energy in Bulgaria is consumed each year which is about 28 MWh per person, somewhat over the world average of 20 MWh. Request a demonstration of the EMIS service. Absolute financial data is included in the purchased report. Bulgaria 2020 - IAEA At least on paper. In 2003 the company received an award for issuer of the year, providing the most complete and accurate corporate information on the Bulgarian Stock Exchange. The chapter then concludes with an evaluation of the research indicators showing Russian activity in the oil sector of the country. 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. However, the Russian energy concern, as its accounting statements indicate, is operating at a loss in Bulgaria. However, long-term share of solar power is much lower. Retrieved from http://www.neftochim.bg/, . No declared profits mean no income taxes paid into Bulgaria's state coffers. Combined with LIQUI MOLY and created with care for your car and nature. Bulgaria's fuel retailer Petrol, which was established in 1932, is the country's former state petroleum product distribution monopoly. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze, Petrol Holding headquarters are located in 22 a Bratya Miladinovi St, Varna, Varna, 9000, Bulgaria, Petrol Holdings main industries are: Banking, Finance, Petrol Holding appears in search results as Petrol Holding, Naftex Petrol EOOD, MARTINOV CLIMA Ltd, Get Free Access to Petrol Holding Contacts Info. Shrewd move: President of FIDE buys into Bulgarian fuel major Petrol - RT 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. Find contact details for 700 million professionals. Fifty-one percent of the state's shares were sold to Bulgaria International Consortium. Anyone you share the following link with will be able to read this content: Sorry, a shareable link is not currently available for this article. (2017). . The Energy Sector of Bulgaria. Retrieved from http://www.platts.com/latest-news/oil/london/interview-trans-balkan-ambo-oil-pipeline-still-8572004. 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 Retrieved from http://www.iea.org/, Ivanova, I., & Tsolova, T. (2011, July 27). Petrol AD Company Profile - Bulgaria | Financials & Key Executives - EMIS Among the first private companies in Bulgaria in terms of sales revenue; Among the largest private investors and taxpayers in the country; Among the companies with the largest capitalization on the Bulgarian Stock Exchange; Among the ten largest and most successful employers in the country; With more than 300 filling stations under the Petrol brand, evenly distributed throughout the country, the company has the most developed fuel distribution network in the Bulgaria. 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. (2014). [20], Bulgaria has the Kozloduy Nuclear Power Plant with two pressurized water reactors (together 2000 MW net). Petrol Holding AD Company Profile, Financial and Strategic SWOT Over the years, it widened its scope of activity and, currently, it invests in leading industries of the Bulgarian economy. [2] Petrol AD has adopted a two-tier management system with a Management Board and a Supervisory Board. Annual growth percentages for latest two years in local currency BGN. Initially, the company used the warehouse of one of the shareholders, gradually investing and building new facilities. Rumen Spetsov, head of the National Revenue Agency, recently asked. 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". Vlek, T., Jiruek, M. (2019). Summary: Claims arising out of the Government's alleged wrongful acts and omissions related to the investments of the . March 25 (SeeNews) - Bulgaria's Petrol Holding will set up a new card payments company to replace its Transcard credit card issuer and will invest 50 million euro ($77.8 million) in developing its credit card business, it said on Tuesday. Enerdata. Search Over the past 15 years, the Burgas refinery has only reported a profit in three years: 2007, 2016, and 2017. The company was established in April 1932, in the capital city of Sofia, and privatized in 1999. Retrieved from http://bpga.net/, Bulgarian Petroleum Refinery Ltd. (n.d.). . 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. Bulgaria's biggest fuel retailer Petrol Holding has drawn up a healing plan envisaging an investment of over 100 million euro ($134 million), majority shareholder Kirsan Ilyumzhinov said. (2007, April 2). But opting out of some of these cookies may have an effect on your browsing experience. Balkanalysis.com Despite the flurry of activity, Vladimirov of the Center for the Study of Democracy, is doubtful much if anything will change. [16] [17] George Mitzov email address & phone number | Petrol Holding Project [13][14][15], Bulgaria consumes about 3 billion cubic meters (bcm) of natural gas. (n.d.). Binghamton: The International Business Press. Ministry of Economy and Energy Bulgaria. Premium 100 octane experience for the fans of high-octane numbers. According to Bulgarian legislation, Goranov explained, those losses could be deducted, or spread out, over five years. This list may not reflect recent changes . Petrol Holding to Invest Over 100 Mln Euro | | HBCBG Learn more about our management organization. (2014). 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. [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). Petrol Holding is burdened by loans, not operating at full capacity and cannot attract investors, but it has a potential to be stabilised and make a . 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 Vagit Alekperov, the president of LUKoil, has been treated almost like royalty during past visits to Bulgaria, meeting with top senior Bulgarian officials. Purchase the Petrol AD report to view the information. Retrieved from http://www.chimimport.bg/uf//dl/statements/individual.eng/Annual%20Report%202014%206C4%20ENG.pdf, Daskalovic, D. (2015, May 6). To view more information, Request a demonstration of the EMIS service. Russia's energy giant LUKoil appears to have a thriving business in Bulgaria, generating millions of dollars in refining revenue. By clicking on 'Allow' or any content on this site, you agree that cookies can be placed. Sofia: Ministry of Economy of the Republic of Bulgaria. Their fuel types, prices, location, extras, photos and ratings all updated daily. Synergon Holding AD (Bulgaria) Bulgarian private industrial group Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. Bulgaria, Organization of Executing the Obligations Following the Membership of the Republic of Bulgaria in the European Union in the Sphere of Compulsory Oil Stocks. : . But that may be unlikely as the company can use past posted losses, including the equivalent of 250 million euros in 2020 alone, to offset that. [3], Established in 1932,[4] Petrol AD occupies a leading position in the distribution of fuels and oils in Bulgaria. NIS Raises Count of Gazprom Fuel Stations in Serbia to 13. Retrieved from https://www.rt.com/business/bulgaria-petrol-ilyumzhinov-deal-287/, Stankova, R. (n.d.). Dominant market position, high demand, robust revenue. We also use third-party cookies that help us analyze and understand how you use this website. [33], Wind power generated 2% of electricity in 2023. Analysts put Petrol Holdings value at 368 million and Ilyumzhinov's stake at 193 million.According to Ilyumzhinov, the purchase of Petrol is his first investment in Bulgaria, but he plans to invest more in property, hotel businesses and telecommunications.Petrol is a multi-profile holding, which owns 361 petrol stations, 80 petrol warehouses, . Petrol Holding's board chairman Mitko Sabev holds the remaining 47.5% stake in the company. About Petrol Holding Petrol Holding, one of the leading Bulgarian companies with consolidated sales of BGN 1.5 billion, was founded in 1995 in Varna, Bulgaria. Litasco is registered in Switzerland and is a subsidiary of LUKoil, which acts as its exclusive buyer and seller on the international market. At the time, in 2011, the Customs Agency issued what was considered an unprecedented statement of "suspicions that our country is ruled by an oligarchy.". In 2011, Borisov, who served as Bulgaria's prime minister between 2009 and 2021, said "Zlatev is my friend," referring to the former representative of LUKoil in Bulgaria, Valentin Zlatev. Retrieved from http://www.upi.com/Business_News/Energy-Industry/2013/04/23/Turkeys-Samsun-Ceyhan-oil-pipeline-shelved/24281366711120/, U.S. Department of the Treasury. Petrol Holding - Overview, News & Competitors | ZoomInfo.com 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. Petrol is a private company established in 1932, and a leader in the distribution of fuels in Bulgaria with over 500 petrol stations, laboratories for permanent quality control of oil products, 80 petrol bases and 3 petrol harbour terminals distributed across the country. Now both "Neftochim" and "Petrol" are private and follow the rules of the market economy.Afterachieving this first goal, Bulgarian Petroleum and Gas Association directs its activities towards the co-operation with the State authorities and the other non-political organisations in the process of harmonization of Bulgarian legislation with theAcquis Communautaireas a step towards the integration of Bulgaria into theEuropean Union. Bulgaria does not produce much coal, oil and gas. Bulgaria, Romania and Croatia ready to fully participate in the Schengen area, Selection of EU special representative to the Gulf: Risky business for the EUs High Representative, G20: European Commission announces 210 million in food assistance for most vulnerable worldwide, FIFA World Cup 2022: MEPs to discuss workers rights with Qatari Labour Minister, Putin must pay: The British politician-turned-Philanthropist building a humanitarian empire in Ukraine, Cyber Defence: EU boosts action against cyber threats, Ukraine Reconstruction: Commissioner Simson visits the country to boost the support for Ukraines energy system, Putin Must Pay: Call for reparations to Ukraine, A secret 56 mln operation to remove Russia from a post-Soviet country, The last deception, worse than the first*. LITASCO SA. 734 Employees. On March 13th 2023 peak photovoltaics power was 30% of Bulgaria electricity generation. Fundamental for the successful implementation of its goals is the development of strong partnerships, products and services, environmental sustainability, and profitability. Retrieved from http://www.cpc.ru/. Find the most convenient station for you! Every visit to a Petrol filling station is more rewarding with our discounts! Russian Companies in Forthcoming EU Member States: A Case of Lukoil in Bulgaria. [6], Over a billion euros that the EU Just Transition Fund might have given has not been, because the government has not submitted plans for a coal phase out in Stara Zagora, Kyustendil and Pernik. [50]. United Press International. Bulgarian Petroleum and Gas Association was established in 1999 by the major companies active in the Petroleum and Gas industry in Bulgaria: "Petrol" AD, "Shell Bulgaria" EAD, "Overgas INC" AD, "Shell Gas Bulgaria" AD, "Toplivo" AD. In recent months, the finance minister and head of the tax agency have raised their voices, urging action be taken to close the apparent grand tax loophole that experts say involves an accounting sleight of hand known as "transfer pricing." Retrieved from http://www.reuters.com/article/bulgaria-lukoil-idUSL6E7IR0BX20110727, Jiruek, M., Vlek, T., & Henderson, J. Clear strategy on future developments and dividend policy, the use of bond market instruments, the application of international accounting standards and international audits, in addition to the use of state-of-the-art high-tech management and communication solutions, guarantee Petrol ADs shareholders that they are invested a company with huge potential. The state holds a 100% stake in the holding company. However, with political pressure growing in Bulgaria, LUKoil did announce in 2021 that it would end the accounting practice of transfer pricing or appeal the National Revenue Agency's finding that it is liable to pay tax on the equivalent of 260 million euros. Four old and unsafe VVER-440/230 reactors (4 x 408 MW net) were taken off-line in 2004 and 2007). Transhold Bulgaria Holding JSC Company Profile, Financial - digitGaps On June 10, 1997, Petrol Joint Stock Company was re-established. Location Bulgaria George Mitzov Email Address Found 1 email address listing: @bginfo.net View George's Email (It's Free) 5 free lookups per month. Language links are at the top of the page across from the title. [45] Burning wood and coal for home heating, which is a common practice in impoverished towns and municipalities, as well as less affluent suburbs, is a major cause of chronic illnesses and excess deaths in the country. 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. The PetrolPlaza audio version is presented to you by UNITI expo, the leading retail petroleum and car wash trade fair in Europe. (2013). It is gradually expanding its activities, gas stations and oil depots are being built throughout the country. Retrieved from http://neurope.eu/article/russian-oligarch-buys-bulgarian-petrol-holding/, Boyadjiev Y., & Andreev, A. Treasury Sanctions Networks Providing Support to the Government of Syria, Including For Facilitating Syrian Government Oil Purchases from ISIL. It's probable that profits are accumulated in this firm and thus make LUKoil appear to be a loss-making company," Tanov said at the time to Bulgarian media. (2015). This chapter contains a detailed case study of Bulgaria. 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. Google Scholar. [19], Most oil products are consumed by transport. Post-Soviet Affairs, 33(5), 335355. Credit Mediterranee is owned by the former president of the Republic of Kalmykia and multi-millionaire businessman Kirsan Ilyumzhinov. PDF FB Brochure 112408 Join to connect Petrol Holding. [7], The government has committed to phase out coal by 2038 but some miners say that a just transition has not been planned. How huge sales equals meager revenue is something that doesn't compute for more and more officials in Bulgaria. In 2016, the then-representative of LUKoil in Bulgaria, Valentin Zlatev, was called before a committee in the National Assembly, Bulgaria's parliament, to address concerns over the firm's suspect flaccid financial results. COPYRIGHT 2022 NEW EUROPE | ALL RIGHTS RESERVED. 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. [36] By the end of 2020 almost 1 GW of onshore wind power had been installed. (2015, November 25). Then-Finance Minister Vladislav Goranov explained that the National Revenue Agency had twice registered huge negative results from the refinery. [46][47][48], Russian gas from Turkstream transits to Serbia and Hungary. Energy Sector Governance and Energy (IN)Security in Bulgaria. Why Putin Is Courting Bulgaria. Give us a call or drop by anytime, we endeavour to answer all enquiries within 24 hours on business days. All Petrol Club Grifon members can take advantage of various promo offers and surprises! It buys crude oil from Russia's LUKoil and then sells it to the Burgas refinery. 10 free leads on us Here's a list of some of the top trending technologies and APIs used by Petrol Holding. Tax calculation will be finalised at checkout. (2004, December 29). It is mandatory to procure user consent prior to running these cookies on your website. "This company ultimately determines both the price of crude oil and the amount that is exported. The projects included in the investment program of the company are developed through innovative solutions in compliance with the highest business standards. Website by, . Behind these three seemingly separate companies is LUKoil. (2014, August 8). Not the George Mitzov you were looking for? And by nearly all metrics, LUKoil Neftochim Burgas, as the company is now called, is a huge success, generating some of the highest revenues in Bulgaria, totaling more than the equivalent of 40 billion euros ($45.7 billion) over the past 15 years. Reuters. This is a preview of subscription content, access via your institution. Interview: Trans-Balkan AMBO Oil Pipeline Still Viable Project. Retrieved from http://www.euractiv.com/section/energy/news/bulgaria-s-government-to-collapse-over-south-stream/, Bulgarian Petroleum and Gas Association. digitGaps is . Bulgarian Petroleum and Gas Association | PetrolPlaza Retrieved from http://www.reuters.com/article/us-bulgaria-russia-idUSBREA390AW20140410. (n.d.). BP Statistical Review of World Energy June 2015. Presentation of Deputy Head Director of the State Agency State Reserve and War-time Stocks.
Brewers At 4001 Yancey Specials,
Atlantic Junior C Hockey Championship,
Articles P