Bulgaria drafts law to help sale of US-sanctioned Russian-owned oil refinery, report says

SOFIA, Nov 5 (Reuters) - Bulgaria's ruling party plans to propose legislation to enable a special manager, if appointed, to oversee the sale of the Burgas oil refinery, owned by U.S. sanctioned Russian oil company Lukoil, local media reported on Wednesday

The draft document, seen and reported by Bulgarian outlet Mediapool, would amend the rights of a special manager to be able to sell the asset, which the refinery's legal owner would have no right to vote on or appeal against.

The U.S. and Britain last month imposed sanctions on Russia's two biggest oil companies, Lukoil LKOH.MM and Rosneft ROSN.MM, over Moscow's war in Ukraine, complicating how they carry out their operations.

Bulgaria has confirmed that the Burgas refinery, and several other subsidiaries of the Lukoil group, would fall under the latest U.S. sanctions.

The government said it was in contact with U.S. institutions to ensure the 190,000-barrel-per-day refinery can continue operating.

Boyko Borissov, former prime minister and leader of the GERB party - which heads Bulgaria's coalition government - said that a special manager law would be introduced later on Wednesday.

"There is a lot of logic in this, which is why today we will submit a draft law on the special governor," public broadcaster BNT quoted Borissov as saying.

Lukoil is struggling to keep operations running at its sprawling foreign businesses as Western sanctions disrupt oil loadings in Iraq, pump stations in Finland and trading in Switzerland, according to sources.

The U.S. Treasury issued a licence giving companies until November 21 to wind down any transactions with Lukoil.