Bulgaria took control of the oil terminal of the subsidiary of Lukoil

The Bulgarian authorities took operational control of the Rosenets oil terminal, which was previously managed by “Lukoil Neftochim Burgas, informed Minister of Transport and Communications Georgi Gvozdeykov in an interview with bTV.

“The state has assumed full control over the Rosenets terminal, operational control from today is under the control of the state <...> The state has every opportunity to manage the terminal and will not allow emergency situations,” he stressed (quote according to TASS).

According to him, Bulgaria will not pay compensation to Lukoil due to the termination of the concession, as this happened as a result of force majeure. When deciding to take the terminal under control, the country’s authorities observed the relevant EU regulations, Gvozdeikov specified.

The minister believes that the abolition of the concession will not affect the cost of petroleum products in Bulgaria, while control over fuel depots remains with the owner, Lukoil.

The Bulgarian authorities terminated the concession agreement with Lukoil Neftohim Burgas on the basis of amendments that the country’s parliament adopted on July 21 this year. This measure was not supported by Bulgarian President Rumen Radev. He appealed to the Constitutional Court and stated that the accelerated adoption of such amendments is contrary to the Constitution and the principles of the rule of law, and is also an example of the country’s irresponsible attitude towards citizens. The President asked the court to check the adopted amendments for compliance with the Constitution. Lukoil said that it sees no reason to terminate the contract concluded in 2011 for 35 years.