July 25 (SeeNews) - Bulgaria's parliament said it approved legislative amendments that effectively terminate the concession on the Rosenets port on the Black Sea granted to Lukoil Neftochim Burgas, part of the European arm of Russia's Lukoil and operator of Bulgaria's sole oil refinery.
The decision, adopted on second and final reading, terminates within a week the concessions for carrying out activities at sites of strategic importance to national security, affecting oil and petroleum products derived from oil originating in Russia or exported from Russia that were awarded to persons falling within the scope of a European regulation on restrictive measures in view of Russia's war in Ukraine, the National Assembly said in a press release on Friday.
Bulgaria's ministry of transport and communications will take over the operation of the Rosenets port located near Burgas within two weeks of the concession's termination, the lawmakers decided.
The changes to the terms of the concession held by Lukoil Neftochim Burgas, were initiated last week by the WCC-DB coalition, a member of Bulgaria's current government.
Last week, Lukoil Neftochim rejected earlier claims that it was allegedly involved in smuggling and other breaches of regulations in its operations at the Rosenets oil terminal. The company also threatened to go to court to protect its business reputation.
Lukoil Neftochim Burgas AD is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here