The state will appoint its own special commercial administrator at the Lukoil Neftochim oil refinery if national security is at risk, according to legal revisions adopted by the Bulgarian Parliament. The administrator will be elected by Parliament on a nomination by the Council of Ministers.
The special commercial administrator will be controlled by both the parliamentary Economic Policy and Innovation Committee and by the full house and will be bound to present detailed six-month action plans that will be an integral part of his or her management contract and will be reported to and adopted by that parliamentary committee.
This part of the bill adopted amends and supplements the Act on Administrative Regulation of Economic Activities Associated with Oil and Petroleum Products. The same bill inserts a provision in the Transitional and Final Provisions of the Act on Control over the Implementation of the Restrictive Measures in View of Russia’s Actions Destabilizing the Situation in Ukraine.
The provision gives the Council of Ministers 30 days from the entry into force of the law to terminate a derogation from an EU prohibition on the supply and processing of crude oil originating in or exported from Russia.
