site.btaLukoil Administrator in Bulgaria Reaffirms Commitment to Stability and Transparent Operations

Rumen Spetsov, the recently appointed special commercial administrator for Russian oil company Lukoil's four businesses in Bulgaria, stated on Monday that Lukoil's Bulgarian group remains firmly committed to maintaining stability, predictability and security in the energy sector, and will continue to inform the public in a timely and transparent manner about all subsequent actions related to the regulatory framework.

In a letter circulated by the GR and PR centre of the group of companies of Lukoil in Bulgaria, Spetsov also said that the role of the special administrator is to guarantee strict and stable management of the companies, which will continue to carry out their operational and commercial activities with full transparency and in line with legal requirements. Fuel supplies and the production process will not be interrupted. Strict financial control will be imposed with full compliance with international regulations and sanctions regimes, he said.

Spetsov, who previously served as executive director of the National Revenue Agency, was appointed on November 14 as special commercial administrator for Lukoil Neftochim Burgas, Lukoil Bulgaria, Lukoil Aviation Bulgaria, and Lukoil Bulgaria Bunker by a Bulgarian government decision. The appointment was made in line with the Act on Administrative Regulation of Economic Activities Related to Oil and Petroleum Products. Earlier on Monday, he was entered in the Commercial Register as holder of his new position.