Former Energy Minister: Lukoil Management Under Spetsov Has Produced “Catastrophic” Results for Bulgaria

Former Economy and Energy Minister Rumen Ovcharov sharply criticized the management of Lukoil under special manager Rumen Spetsov, describing the results as “catastrophic” after Parliament moved to limit the powers of the state-appointed administrator. Speaking to Bulgarian National Radio, Ovcharov argued that the refinery’s production policy had caused serious financial losses, particularly regarding aviation fuel. According to him, jet fuel is currently the refinery’s most profitable product, yet output has remained far below capacity for two consecutive months. ...