New control over the special manager of oil facilities: Key changes

Increased Control over Commercial Managers in the Oil Sector

The Temporary Committee on Budget and Finance of the National Assembly has adopted at second reading important amendments to the Law on Administrative Regulation of Economic Activities Related to Oil and Petroleum Products.

The purpose of the bill is to ensure transparency and prevent financial and reputational damage to the state in the management of critical infrastructure.

Key highlights of the regulations:

• Administrative supervision: The special commercial manager will now be required to provide a monthly report to the Minister of Economy, Investments, and Industry.
• Judicial control: Procedures for judicial oversight are being introduced for transactions with the most significant impact, including the disposal of shares, stakes, and assets of the companies.
• Prevention of abuse: The new rules aim to limit violations and potential claims for damages from affected enterprises.

With these legislative changes, the state aims to tighten control over the management of key facilities of critical infrastructure, ensuring higher security for capital owners.