After the privatization of “Neftochim“ in the late 1990s, the state retained the so-called “golden share“, which gives blocking rights over key decisions, and in 1999 Spas Garnevski became its holder as the state's representative in “Lukoil Neftochim“. During this period, he participated in the supervisory mechanisms of the refinery, and his role was to protect the state's interest in the enterprise. On February 28, 2000, Garnevski resigned from his post, stating that the decision was not the result of pressure, but of an effort to separate political influence from economic management.
The former deputy from the civil quota of GERB spoke in the studio of “Offensive with Lyubo Ognyanov“ about that period.
“After the bankruptcy of the state during the time of Zhan Videnov, 42% of the state's tax revenue came from "Neftochim". It was extremely important to have someone there who would strictly fulfill the obligations arising from the "golden share" in order to fill the budget. At that time, in addition to being the mayor of Plovdiv, I was also the leader of the UDF. At that time, the refinery was created, and it was to operate only according to technologies that were compatible with Russian oil. I was told that we must protect the Bulgarian interest and the revenues of the state, which was in a tragic state after the communists. I made sure that every lev was not diverted“, commented Garnevski.
“The“Golden share“ is a special state instrument — through it the state has the right to a representative on the Supervisory Board of the company and can block certain decisions of the shareholders. This share in “Neftochim“ is “equivalent to a 34% stake“ “ this is a “blocking quota“. Through it, the state has control that allows it to intervene in decisions that contradict its public interest.
Regarding the current situation in which Bulgaria was granted a derogation from the American sanctions against “Lukoil” Regarding the Bulgarian asset - the refinery in Burgas, Garnevski said: “The US and Britain are monitoring the process, allowing the derogation, they will not allow anything wrong to happen. After 2020, what the president and the PP-DB are doing is called "No, Bulgaria". The Bulgarian authorities are acting perfectly, it is rare to see such an intelligent prime minister. The special manager Rumen Spetsov is 100% coordinated with our partners, and his powers are limited to control. Bulgaria will not be a change bureau that returns millions from oil to Moscow“, Garnevski is categorical.