Bulgaria, Country’s oil and oil derivatives amount to a little over one million tons

, SEE Energy News

Bulgarian caretaker Minister of Internal Affairs Ivan Demerdzhiev said that the country’s oil and oil derivatives amount to a little over one million tons.

The EU member states are obliged to maintain minimum stocks of crude oil and/or oil products. The decision was made in September 2009.

Bulgaria created emergency reserves with the Oil and Petroleum Products Reserves Act, which came into force in March 2013. The main goal is to ensure the supply of liquid fuels in the event of supply difficulties or a significant interruption in the supply of oil and oil products in the country.

Bulgaria, as a net importer of energy products, must maintain stocks for a minimum of 90 days of average daily net imports.

The levels of emergency supplies are determined annually and maintained for a period of 12 months (from July 1 of the current year to June 30 of the following calendar year). The calculations are based on a database of the National Statistical Institute, according to which the average daily net import for the previous year amounted to 12,698 tons. Therefore, the total level of reserves, providing 90 days of average daily import, amounts to 1,142,837 tons.