The Committee on Economic Policy and Innovation adopted in the second reading the changes in the Bill on control over the implementation of restrictive measures in view of Russia’s actions destabilizing the situation in Ukraine. The decision, which is yet to be confirmed in the plenary, states that the derogation is postponed for 12 months.
With the adoption of the second reading of the draft law by 30.09.2024, when the derogation is finally cancelled, “Lukoil Neftohim Burgas” JSC must gradually switch to the processing of oil of non-Russian origin, and until 31.12.2023 it has the right to process no more than 80 percent of oil of Russian origin; until 31.03.2024, no more than 75 percent of oil of Russian origin; until 30.06.2024 no more than 50 percent of oil of Russian origin; until 30.09.2024, no more than 25 percent of oil of Russian origin, while the turnover of produced fuels is not lower than the average for the last five completed financial years. From 01.10.2024, “Lukoil Neftohim Burgas” AD must fully process oil of non-Russian origin.
The other important point in this bill is the appearance of a special commercial manager in Lukoil.