Financial and business news from Bulgaria

State creates gas station chain, converts oil reserve into firm

The state will create a chain of gas stations that will work towards the new state-owned firm, State Oil Company. It, in turn, will replace the current state oil reserve.
The idea was just circulated by the finance ministry. It is proposed that “State Oil Company” is with the Principal Minister of Economy.

The company will build gas stations throughout the country in settlements and main thoroughfares in the next year, according to the Finance Ministry's announcement. The gas stations of the state-owned company will also provide the possibility of charging electric vehicles, in the context of the strategy for low-carbon economy and environmental protection.

In order to ensure maximum competition in the fuel market, licensed warehousekeepers will not be able to refuse the storage of fuels to other depositors. It is also envisaged that the state-owned company will have warehouses in which fuels will be stored for other depositors.

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