LONDON
The Bulgarian parliament passed legislation Friday expanding state powers on Lukoil’s operations in a bid to protect the fuel supply amid Russia sanctions risks, according to media reports Friday.
The National Assembly expanded the powers of the special commercial administrator of a critical infrastructure facility by adopting amendments to the Act on Administrative Regulation of Economic Activities Associated with Oil and Petroleum Product.
The amendments were prompted by plans to appoint a special commercial administrator at the Bulgarian subsidiary of the Russian oil company Lukoil oil refinery in Burgas, the second-largest city in the country’s Black Sea coast.
The bill was moved by lawmakers from the Movement for Rights and Freedoms – New Beginning, GERB-UDF Is Such a People, and the BSP-United Left parties.
The proposed legislation passed in the National Assembly Energy Committee in the morning before it was moved on to the full House.
The proposal for a second reading to be held in the same sitting was made by Stanislav Anastasov of the MRF–New Beginning, and was opposed by the Vazrazhdane party, which had its own proposals to remove certain provisions.
The amendments will take effect on the day of their promulgation in the State Gazette, according to the report.
It comes after fears that US sanctions imposed on Lukoil OAO assets could effectively lead to the shutdown of Bulgaria’s only oil refinery, Lukoil Neftochim.
