site.btaLukoil Neftochim Special Administrator Spetsov Removes Board Chair Manyakhin

The special commercial administrator of Lukoil Neftochim Burgas, Rumen Spetsov, has dismissed Evgeny Manyakhin as chairman of the company's board and revoked his authority to represent the company.

Spetsov made the move on his very first day in office as special commercial administrator of the four Lukoil companies operating in Bulgaria, including Lukoil Neftochim Burgas. The decision has been published in the Commercial Register of the Registry Agency.

Under the ruling, Manyakhin remains only a member of the Board of Lukoil Neftochim Burgas.

The changes are not yet reflected in the Commercial Register, as the application for updating the company's records is still being processed.

As for the other three Lukoil companies in Bulgaria — Lukoil Aviation Bulgaria, Lukoil-Bulgaria Bunker, and Lukoil-Bulgaria — no similar actions have been taken so far, according to the Commercial Register.

As of November 17, Russian citizen Mikhail Sizov and special commercial administrator Rumen Spetsov are listed as managers of Lukoil Aviation Bulgaria.

The same two individuals are also registered as managers of Lukoil-Bulgaria Bunker.

Spetsov and Aleksandar Velichkov are registered as managers of Lukoil-Bulgaria.

Spetsov's nomination as special commercial administrator — he is the former executive director of the National Revenue Agency — was proposed and approved at an extraordinary meeting of the Security Council under the Council of Ministers on Friday. Prime Minister Rosen Zhelyazkov initiated the selection procedure immediately after the most recent amendments to the Act on Administrative Regulation of Economic Activities Related to Oil and Petroleum Products were published in the State Gazette at the end of last week.