Bulgarian Ministry of Finance suggests forming of state oil company

, SEE Energy News

The Association of Bulgarian fuel traders, producers and importers said in a statement that it supports the establishment of such state-owned company, as it believes that it will support competition in the market. Bulgarian Ministry of Finance proposed the establishment of a “state oil company” which will perform all the functions of the state reserve for storage of oil and oil products and their renewal.

As an additional activity, the newly established company will build new petrol station throughout the country, which should improve competition in the market and ensure the lowest possible fuel prices. These stations will also provide services of refueling electric cars. It is also envisaged that the state-owned company will have storage capacities in which it will store fuels for other companies as well.