Petkov warns refinery law risks mafia control, not reform

Former Bulgarian co-chairman Kiril Petkov criticized a proposed law by Delyan Peevski after Gunvor withdrew its offer to acquire Lukoil assets. He said the measure gives a state-appointed administrator sweeping authority over the Burgas refinery, including the power to sell assets without judicial appeal, and routes any proceeds to the Bulgarian Development Bank at the Cabinet’s direction. Petkov warned that handing such powers to an opaque manager could invite criminal influence over a strategic facility and would prolong Moscow’s sway rather than break it. He added that the likely outcomes include costly arbitration claims and the deterrence of reputable Western buyers.

Petkov said he would support appointing an executive from a large international firm who brings transparent procedures and no political ties. He accused the current draft of cementing Russian control instead of interrupting it and of stripping courts of oversight over critical decisions. The remarks were posted on his Facebook page and referred to Gunvor’s decision to pull back from the purchase.