site.btaGovernment Adopts Decision to Notify Lukoil Neftochim about Termination of Rossenets Oil Port Concession

The government has adopted a decision to notify Lukoil Neftochim about the termination of the Rossenets oil port concession contract, said the government information service on Friday. The decision was adopted in the absence of the ministers.

The concession contract was terminated by amending legislation on control of the implementation of restrictive measures in view of Russia's actions destabilising the situation in Ukraine. 

On August 4 President Rumen Radev referred the termination of the concession for the Rosenets port terminal to the Constitutional Court. The President argued that the decisions in the field of energy must always rest on the need for reliability and continuity of supply of raw materials and on guaranteeing affordable prices for citizens and industry.