``` Russia dominates the energy sector as Gazprom is Bulgaria’s sole natural gas provider. Gazprom which supplies close to 97 percent of Bulgaria’s gas needs, also owns 50 percent in the country’s largest retail gas distribution company, Overgaz and has also expanded its presence on the fuels market via its subsidiary Gazprom Neft.
Rosatom and its subsidiaries have a dominant position in the country’s nuclear energy sector, responsible for reactor fuel supply and nuclear waste management. Nuclear energy makes up around 20 percent of the total final primary energy consumption and around 34 percent of the total electricity generation in the country. All nuclear power is produced by the Soviet-built Kozloduy Nuclear Power Plant. It is fully dependent on the import of reactor fuel from Russia via the Russian company TVEL, a subsidiary of Russia’s Rosatom and ships all of the plant’s spent fuel back to Russia for processing.
Lukoil controls Bulgaria’s only oil refinery and over 50 percent of the wholesale fuels market. Currently Lukoil Neftohim is the largest company in Bulgaria with roughly € 3 billion revenues. Together with its wholesale and retail-fuel-distributing subsidiaries, Lukoil is also the largest taxpayer controlling indirectly roughly one-quarter of all budget revenues in the country.
Russian banking groups have long established presence in Bulgaria. Chief amongst them is VTB
Russian FDI is also concentrated in other strategic sectors such as finance, telecommunications, real estate, transportation, industrial, construction and the media.
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