The Energy Committee of the National Assembly approved at first reading amendments to the State Reserves and Wartime Reserves Act.

The proposal closes the State Oil Company, and its functions will be taken over by the State Agency for State Reserves and Wartime Stocks. 

The project was supported by 11 people, no one voted against, and two abstained.

With the adoption of the project, preliminary information is published on the conditions and quantities of stocks that the Agency may undertake to keep for the relevant central stock management structure of other Member States of the European Union.

Council of Ministers decides to close State Oil Company

The State Agency conducts competitive procedures for selection of custodians with warehouses, for storage of stocks, when its vessel capacities are not sufficient.

The full text of the bill can be found on the website of the National Assembly - https://www.parliament.bg/bg/bills/ID/164181

state oil company