Government Makes Public Details on Future State-owned Fuel Company with Fuel Storage Facilities and Filling Stations

Sofia, May 18 (BTA) - The government made public Monday details
of its plans to set up a state-owned company with a chain of
fuel storage facilities and 10 to 100 filling stations across
the country. Finance Minister Vladislav Goranov and Economy
Minister Emil Karanikolov held a news briefing on the matter
after an extraordinary government meeting considered a bill of
amendments to the State Reserve and Wartime Stocks Act.

It transpired there that the government was aiming to set things
 right on a market where one company, LUKOil Bulgaria, holds 80
per cent of the fuel warehouses and where a dramatic decrease in
 the price of oil on international markets has led to a mere 25
per cent drop in fuel prices for users.

The proposal for establishing a state-owned fuel company under
the Economy Minister was made by the Finance Ministry last week.
 The company will perform all functions of the contingency
reserve for storage and replenishing the reserves of
petrochemical products.

The Economy Minister said that the fuel storage facilities will
be the top priority of the future company. Experts of the
Finance Ministry, the Customs Agency and the fuels sector will
do an analysis to determine how many fuel warehouses are needed.
 He said this "will provide a more competitive environment for
all players in the sector and improve the quality of service".

As for the filling stations, it is yet to be decided what type
they will be and where they will be built. The plan is not to
use government financing for building the filling stations, said
 the Minister. He added that they will likely use "own
financing"  without specifying further. The future filling
statins will offer charging stations for electric cars. LN/NV

Source: Sofia