Bulgarian Ministry Of Finance Proposes To Establish State Oil Company

The Ministry of Finance proposes the establishment of a “State Oil Company” which will perform all the functions of the state reserve for storage and renewal of oil reserves.

In order to improve competition in the market and ensure the lowest possible prices for citizens and businesses, as an additional activity, the company will build in the next year gas stations throughout the country said the Ministry of Finance. The gas stations of the state company will provide the opportunity to refuel electric cars.

Licensed warehousekeepers will not be able to deny fuel storage to other depositors. It is envisaged that the state-owned company will have storage facilities in which to store fuels for other investors as well.

The Association of Bulgarian Traders, Producers, Importers and Carriers of Fuels supports the establishment of a “State Oil Company”, which will support competition in order to compete between individual economic entities. The association sent an opinion to the Ministry of Finance in support of their proposal.

Read More

Etem & Gestamp To Invest 30 Million Euros In Bulgaria

Etem Bulgaria and Gestamp North Europe Services received approval from regulators in Brussels and Turkey for the creation of two new joint...

Bulgarian Government Debt Increased By 126 Million Euros Between May and June

Debt in the Central Government subsector increased by EUR 126 million by the end of June compared to May, according to the Ministry of Finance.

Bulgaria Is Becoming A Fintech Power Player

Bulgaria is leading the countries of Southeast Europe (SEE) in terms of the number of fintech companies, according to a recent digital banking report...

Recent

18 Year Old Bulgarian Weightlifting Youth Champion Banned For Life

Bulgarian weightlifting suffered another blow on Friday when European youth champion Dayana Dimitrova was banned for life after a second doping offence since April...

Bulgaria Top Tourist Destination For Greeks In 2018

Bulgaria was the top destination for Greeks in 2018, according to data released by the Bank of Greece, as there were 2.37...

3M Adhesive Tape Company Job Cuts To Affect Bulgaria Too

American company 3M, whose most famous product is the adhesive tape, plans to cut 2000 people globally. The company...