Russian oil company Lukoil intends to invest USD 1.3bn in its local refinery Lukoil Neftochim, located in the southern Black Sea city of Burgas, over the next few years, PM Boyko Borisov told a press conference after the opening of new installations at the site of the plant. The investments will support fuels exports to Macedonia, Serbia and Turkey through opening a retail centre for fuels. In Arpil, managing board chairman Sergey Andronov said that Lukoil is to complete the construction of the USD 1bn hydrocracking unit at Lukoil Neftochim in four years. The facility is to employ 300 workers. Lukoil Neftochim is the largest refining and chemical processing plant on the Balkans. It employs some 2,200 workers. The company exports half of its production to neighbouring Balkan countries and reportedly covers 80% of the domestic motor fuel demand. Luokoil invested USD 1bn in the refinery, half of which in the last two years.