US EditionPublished • loading... • Updated
Bulgaria Names Manager to Take over Russia's Lukoil Refinery After US ...
Bulgaria appointed Rumen Spetsov to oversee Lukoil's Neftochim refinery to maintain operations amid US sanctions and enable a timely license from the Office of Foreign Assets Control.
- On Friday, Bulgaria nominated National Revenue Agency director Rumen Spetsov as Special Administrator to take control of Lukoil's Neftochim refinery in Burgas.
- The United States last month sanctioned Rosneft and Lukoil, and a week ago Bulgarian parliament authorised seizing Lukoil's assets in Bulgaria, including depots and petrol stations.
- The emergency law grants the special administrator broad, unchallengeable powers, allowing Rumen Spetsov, National Revenue Agency director and Special Administrator nominee, to sell shares pending Bulgarian government approval.
- Measures aim to secure an OFAC license that permits continued refinery operation as Energy Minister Zhecho Stankov said the measures ensure OFAC could issue a license after November 21.
- Critics including President Rumen Radev criticised the move, warning of rule-of-law risks and high fiscal danger, while Eleonora Mitrofanova likened it to property expropriation.
Insights by Ground AI
57 Articles
57 Articles
ABC FOX Montana+41 Reposted by 41 other sources
Bulgaria names manager to take over Russia's Lukoil refinery after US sanctions
Bulgaria on Friday nominated a senior government official to take control of a major Lukoil refinery in the east of the country following US sanctions against the Russian oil giant.
·Missoula, United States
Read Full Article
US sanctions: Anyone doing business with Russian oil companies Lukoil and Rosneft could be hit by US sanctions starting November 21.
·Netherlands
Read Full Article
As measures against Lukoil and Rosneft enter into force on 21 November, the countries of the region fear a shortage of fuel, remain dependent on Russian oil or still have refineries owned by the two companies in their territory.
·Paris, France
Read Full Article
Lukoil has a dominant position in the market with a network of oil depots, gas stations, and companies supplying ships and aircraft.
Coverage Details
Total News Sources57
Leaning Left8Leaning Right9Center11Last UpdatedBias Distribution39% Center
Bias Distribution
- 39% of the sources are Center
39% Center
L 29%
C 39%
R 32%
Factuality
To view factuality data please Upgrade to Premium
