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State oil company in Bulgaria to guarantee market competition

Photo: BGNES

The National Assembly has approved the establishment of State Oil Company. The amendments to the Law on State Reserves and Wartime Stocks envisage that the new company could not be privatized or go bankrupt.

The company is expected to build a chain of at least 100 gas stations and keep fuels in reserve. It will also operate warehouses, which will be registered like any other private site under the Fuel Act. Its principal will be the Minister of Economy.



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