Radev government replaces special administrator of Lukoil assets in Bulgaria
In a June 3 decision, Prime Minister Roumen Radev’s Cabinet dismissed Roumen Spetsov as special administrator of Lukoil’s assets in Bulgaria, replacing him with Evgeni Simeonov, according to Economy, Investments and Industry Minister Alexander Pulev.
Pulev said that Simeonov has the necessary professional experience, expertise and integrity to implement effective, transparent and lawful control over the companies that are part of the Lukoil group.
Simeonov has been an employee of the Ministry of Economy for more than 10 years.
According to Pulev, Simeonov began his career in the department in 2016 as a junior specialist and, thanks to his own expertise, perseverance and qualities, he rose to the highest level – head of the State Agency for Metrological and Technical Supervision – the most relevant specialized state body that implements national policies for supervision and control of fuels, gas stations and oil depots.
Experience, transparency, directness and legality are the qualities that the special commercial manager of Lukoil must meet, Pulev said, when asked by reporters about why Spetsov was replaced.
“From the perspective of transparency and accountability, here we have a lack of implementation from the first day of Mr. Spetsov’s appointment to his last day, which is today, a few hours ago,” Pulev said.
“Let’s start from the first day. There is a regulatory requirement to provide a six-month recovery plan to all companies that are part of the powers of the special commercial manager. Such a plan has not been implemented,” he said.
“Accordingly, to this day we do not have the necessary accountability, professionally presented reports that have the necessary content, so that the state can properly regulate this difficult mechanism that has an effect on the consumer ability of all of us. From the perspective of retail fuel prices.
“And last but not least – legality. Here, at the risk of being criticized, I have a lot of information from the services, confidential, classified information, which I cannot share with you now…this is a decision related to national security, related to our desire to have a transparent pricing process,” Pulev said.
Bulgaria’s National Assembly approved on November 7 2025 amendments to the country’s law regulating operations in the oil and oil products industry, expanding the powers of special representatives appointed to manage assets deemed of critical importance.
Then-president Roumen Radev said on November 12 that he had vetoed amendments to the country’s law regulating operations in the oil and oil products industry.
The National Assembly voted on November 13 to overturn Radev’s veto.
Then-Economy Minister Petar Dilov said on November 14 that Spetsov, who at the time was the head of the National Revenue Agency, was being nominated to be the special administrator of Lukoil’s assets in Bulgaria, which include the country’s sole oil refinery.
On May 27 2026, Parliament approved the first reading of legislative amendments, tabled by Prime Minister Radev’s Progressive Bulgaria, strengthening the power of the Economy Minister over the special administrator.
The second reading of these amendments is on Parliament’s Order Paper for its June 3 to 5 sitting.
(Photo: sociate/flickr.com)
