The club traced its roots to 1962, when refinery workers in Burgas founded it as Stroitel Burgas. It was renamed Neftochimic in 1964 after the local Neftochim petroleum refinery. The team started in regional leagues and earned promotion to the second division in 1965. It played at the Neftochimic Stadium (later part of Lazur Stadium complex).
In 1969, communist authorities merged top local talent into a unified Burgas team (favoring Chernomorets), effectively disbanding Neftochimic for over a decade. It lingered in lower/workers' competitions until a 1981 merger with Lokomotiv Burgas revived it professionally (officially registered in 1986).
Under president Hristo Portochanov (from 1990), the club transformed. Key developments included, Stadium upgrades at Lazur (capacity ~18,000, one of Bulgaria's best at the time).
Promotion to the top-flight A Group (now Parva Liga) in 1993.
With 4th place in the league being their highest ever finish domestically. Thr Club consistently qualified for the European Competitions, through their multiple successes in the domestic cop competitions
In the 2000–01 UEFA Cup, they eliminated AC Omonia (Cyprus) but lost to Lokomotiv Moscow. The club was renamed Naftex in 2001 after an oil company takeover.
Nicknamed "The Sheikhs," it built a solid reputation with players like Radostin Kishishev, Stoyko Sakaliev, and others who earned international caps.
Financial troubles hit after Portochanov's 2004 resignation. Key players were sold, management faltered, and the club was relegated from the top flight in 2006. It became a de facto satellite of local rivals Chernomorets Burgas before folding entirely on July 6, 2009, due to debts and insolvency.
A successor (Neftochimic 1986, later iterations like PFC Neftochimic Burgas) was quickly formed and claimed some heritage, but it faced its own issues (dissolved in 2014) and is not considered the direct legal continuation by all records.
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