SOFIA: Bulgaria is racing to prevent the shutdown of its only oil refinery before US sanctions on the Russian owner take effect later this month.
Parliament in Sofia approved legal changes that grant additional state authority to a government-appointed manager of the Lukoil-owned Burgas refinery on the Black Sea coast.
The move came after a top international commodities trader dropped plans to purchase Lukoil’s international assets, as the company rejected US government allegations of being “the Kremlin’s puppet.”
Lukoil said it was selling its international assets in response to US sanctions aimed at pushing Russia to agree to a ceasefire in its war against Ukraine. The company has stakes in oil and gas projects in 11 countries, including the Burgas refinery, as well as gas stations in many countries.
Under the new amendments, the manager is granted significant operational control of the refinery, including the right to sell its shares. Opposition lawmakers criticized the changes, saying they could prompt legal action against Bulgaria.
“This person will be granted such extraordinary powers that, in the end, Lukoil will sue Bulgaria — and the money will end up in Russia,” said Ivaylo Mirchev, leader of the Democratic Bulgaria alliance.
The ruling coalition introduced the changes, arguing that the US sanctions, scheduled to take effect on Nov. 21, “will effectively lead to the shutdown of the refinery’s operations due to the refusal of all counterparties to make payments to Lukoil-owned companies.”
In 1999, the Russian oil giant Lukoil acquired the Neftochim plant on the Black Sea. It is the largest oil refinery in the Balkans. Recent estimates by experts set the value of the refinery at 1.3 billion euros ($1.5 billion).
The Lukoil-Neftochim refinery is Bulgaria’s largest company, playing a significant role in the country’s economy. In 2024, it had a turnover of about 4.7 billion euros ($5.4 billion). Its nationwide network of oil depots and gas stations, as well as its supply of ships and aircraft, gives it near-monopoly status.
Last week, Bulgaria imposed temporary restrictions on the export of petroleum products, including those destined for other European Union members, to ensure sufficient domestic supplies ahead of new US sanctions on Russian energy. The ban covers exports of petroleum products, including diesel and aviation fuel.
Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions
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Bulgaria moves to prevent shutdown of its only oil refinery ahead of US sanctions
- Lukoil said it was selling its international assets in response to US sanctions aimed at pushing Russia to agree to a ceasefire in its war against Ukraine
Sri Lanka doubles troops for flood disaster recovery
- Sri Lanka is expecting further heavy monsoon rains, topping 75 millimeters in many places, including the worst-affected central region, the Disaster Management Center said
COLOMBO: Sri Lanka has doubled its military deployment to regions struck by a cyclone that has killed 635, sending tens of thousands of troops to help areas hit by a wave of destruction, the army said Monday.
More than 2 million people — nearly 10 percent of the population — have been affected by the disaster caused by Cyclone Ditwah, the worst on the island this century.
Sri Lanka is expecting further heavy monsoon rains, topping 75 millimeters in many places, including the worst-affected central region, the Disaster Management Center said. It has also issued warnings of further landslides.
“Given that mountain slopes are already saturated with rain water since last week, even slight showers could make them unstable again,” an official said, urging those evacuated from high-risk areas not to return.
The center has confirmed 635 deaths, with another 192 people unaccounted for since Nov. 27, when intense rains brought on by Cyclone Ditwah triggered landslides and floods.
The disaster management agency warned residents to “take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.”
Army chief Lasantha Rodrigo said 38,500 security personnel had been sent to boost recovery and clean-up operations in flood-affected and landslide-hit areas, nearly doubling the inital deployment.
“Since the disaster, security forces have been able to rescue 31,116 people who were in distress,” Rodrigo said in a pre-recorded statement.
Army spokesman Waruna Gamage said additional troops were deployed as the rescue efforts turned into a recovery operation.
