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S&P 500   3,933.92
DOW   33,597.92
QQQ   280.53
How To Be Persuasive With Your Body Language
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
How to Play Apple and Amazon Heading in 2023
Low Beta, High Yield Campbell Soup Company Is Mmm Mmm Good
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
Ulta Issues A Beautiful FY Outlook, But Is the Stock A Buy Now?
Microsoft strikes 10-year deal with Nintendo on Call of Duty
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
Could trawler cams help save world's dwindling fish stocks?
Southwest Airlines brings back dividend as travel rebounds
S&P 500   3,933.92
DOW   33,597.92
QQQ   280.53
How To Be Persuasive With Your Body Language
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
How to Play Apple and Amazon Heading in 2023
Low Beta, High Yield Campbell Soup Company Is Mmm Mmm Good
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
Ulta Issues A Beautiful FY Outlook, But Is the Stock A Buy Now?
Microsoft strikes 10-year deal with Nintendo on Call of Duty
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
Could trawler cams help save world's dwindling fish stocks?
Southwest Airlines brings back dividend as travel rebounds
S&P 500   3,933.92
DOW   33,597.92
QQQ   280.53
How To Be Persuasive With Your Body Language
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
How to Play Apple and Amazon Heading in 2023
Low Beta, High Yield Campbell Soup Company Is Mmm Mmm Good
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
Ulta Issues A Beautiful FY Outlook, But Is the Stock A Buy Now?
Microsoft strikes 10-year deal with Nintendo on Call of Duty
Want To Catch The Next Hot Investing Trend (Look Inside?) (Ad)
Could trawler cams help save world's dwindling fish stocks?
Southwest Airlines brings back dividend as travel rebounds

Bulgaria to let Russian oil refinery export despite EU ban


A worker, top left, works on the roof of the Lukoil headquarters in the Bulgarian capital Sofia, July 27, 2011. Bulgaria will allow Lukoil, a Black Sea refinery owned by a Russian oil company, to keep operating and exporting oil products to the European Union until the end of 2024 despite warnings by Brussels that it is against the bloc’s sanctions. (AP Photo/Valentina Petrova, File)

SOFIA, Bulgaria (AP) — Bulgaria will allow a Black Sea refinery owned by a Russian oil company to keep operating and exporting oil products to the European Union until the end of 2024 despite warnings by Brussels that it is against the bloc’s sanctions.

The deal between Bulgaria and Russian-owned Lukoil will give an additional 350 million-euro (dollar) boost to Bulgaria's budget, according to estimates by the government in Sofia.

“We achieved something very important: from January 1, 2023, Lukoil will transfer all production, revenues and taxes to be paid in Bulgaria, and not, as it was before, in the Netherlands or Switzerland,” Bulgarian Deputy Prime Minister Hristo Alexiev said after talks with managers of the Russian oil company.

The deal also benefits Lukoil, allowing its Bulgarian facility to partially avoid an upcoming EU embargo on most Russian oil products.

“The refinery cannot work if exports are curtailed," CEO Ilshat Sharafutdinov warned.

The Balkan country’s sole refinery is the main source of gasoline and diesel fuel sold on the Bulgarian market, but half of the production is for export.

It contributes some 9% of the country’s economic output and employs several thousand people. A shutdown would cause serious troubles to the labor market in addition to the loss of refining capacity.

In June, the EU banned the purchase, import or transfer of Russian crude oil starting Dec. 5 and other refined petroleum products from Russia starting Feb. 5.

Bulgaria received an exemption and can continue to import crude oil and petroleum products via maritime transport until the end of 2024. It cannot, however, export petroleum products produced from Russian oil in Bulgaria.

Officials from the EU country assert that the oil products it exports will be Bulgarian.

“The oil products derived from Urals oil will originate from Bulgaria and can be exported,” Deputy Finance Minister Lyudmila Petkova said Monday, referencing Russia's export grade of crude.


Bulgaria’s government argues that the export ban would harm the country’s economy as it will accumulate a deficit in its domestic market after Lukoil’s refinery stops production.

7 Most Overhyped Penny Stocks to Sell Now

One question that investors frequently ask is “when do I sell a stock?" That can be tricky to answer when stocks are going up, but it can be just as tricky when stocks are going down. And that's even more the case when it comes to penny stocks.

Many investors who buy penny stocks do so knowing that they're placing a speculative bet. This means they're willing to hold on to the stock even when fundamental and technical trends are working against them.  But, depending on your position, there are times when it's best to sell some shares even if you have to take a loss and try again another day.

Penny stocks are typically regarded as stocks that trade below $1 (i.e. for pennies on the dollar). But in recent years, the definition has expanded to include all stocks that trade for less than $5. And that's the definition being used in this special presentation.

We're looking at seven penny stocks that investors should sell now. Each has market forces that suggest the stock price still has room to go down. That means selling today can help you get a better price in the future.

View the Stocks Here .