The dismissal of Rumen Spetsov as acting special commercial manager of “Lukoil” was not unexpected. I personally and the team of the Center for the Study of Democracy had no doubts that such a replacement would be made, since this is a key asset that must be placed under supervision. He stated this in “Your Day” on NOVA NEWS, energy expert from the Center for the Study of Democracy Tsvetomir Nikolov, commenting on the cabinet's decision to reshuffle the refinery's management.
He explained that this is a structure with enormous commercial influence on fuel prices, supply chains and the entire process - from refining to gas station pumps. "Therefore, every government would like to at least have access to internal information and have someone they trust and who ensures transparency", the expert emphasized.
And he recalled that there is a stated desire on the part of “Lukoil“ for an arbitration case. "In this context, there may be certain considerations or a desire to react so that the state is in a better position. However, these are only assumptions. Certainly, the management is a key factor and trust is of paramount importance", said Nikolov.
According to him, now we have to monitor wholesale and retail prices - whether they will maintain their current levels, decrease or increase. "This will show us what the policy of the special management is and whether the prices have been artificially maintained. Another important indicator is the financial condition of the refinery and the related companies in the structure of “Lukoil“. These are the two most important parameters. Of course, the security of supplies must also be guaranteed, but there are already contracts concluded there and there should be no problems", emphasized the energy expert.
And he added: "Both can be monitored publicly. Wholesale and retail prices are published every week by the EC. The financial condition can be monitored through the company's annual and interim financial statements, as well as through the information from the reports provided by the special manager of the National Assembly.
The "Lukoil" case: Is Rumen Spetsov suitable for a special manager and will there be enough fuel in our country?
With regard to fuel supplies, Nikolov said that globally there is still an oil deficit of about 20%. "For the EU, the kerosene market remains the most sensitive. However, for Bulgaria, there is no problem with physical supplies." In this regard, Bulgaria is in a calm situation. Supplies continue, the refinery is operating, and the necessary quantities are provided.".
According to him, the problem remains related to global oil prices and individual fuels, as well as to longer-term economic effects. Higher natural gas prices will affect the prices of fertilizers, plastics, medicines and a number of other products that use petroleum derivatives.
These are the economic effects that have yet to be addressed and which could lead to additional inflationary processes, he added.