site.btaCabinet Approves Closure of State Oil Company

The government approved a bill amending and supplementing the law on State Reserves and Wartime Stocks, and thus dissolving Bulgaria’s State Oil Company.

The analyses carried out so far indicate that after the establishment of the State Oil Company none of the mechanisms for developing the company's expertise and economic potential to make it competitive on the Bulgarian fuel market have been effectively used.

The analyses also show that the plan to have a state-owned company building and operating filling stations is unjustified from an economic point of view and does not protect the state and public interest.