Bulgaria has a little over 1 Million tons of Oil and Oil Product Reserves

Energy | December 9, 2022, Friday // 08:52|  views


Bulgaria's reserves of oil and oil products amount to a little over 1 million tons. This was stated by the Acting Minister of Internal Affairs, Ivan Demerdzhiev, in response to an MP's question.

"According to the latest data relating to October, the emergency supplies created by the country totaled 1,001,038,117 tons," the minister specified.

The member countries of the European Union are obliged to maintain minimum stocks of crude oil and/or oil products. The decision was made in September 2009.

Bulgaria created emergency reserves with the Oil and Petroleum Products Reserves Act, which came into force on March 15, 2013. The main goal is to ensure the supply of liquid fuels in the event of supply difficulties or a significant interruption in the supply of oil and oil products in the country.

Bulgaria, as a net importer of energy products, must maintain stocks for a minimum of 90 days of average daily net imports.

The "State Reserve and Wartime Stocks" Agency carries out state supervision over the creation, storage, renewal, use and restoration of emergency supplies.

The levels of emergency supplies are determined annually and maintained for a period of 12 months (from July 1 of the current year to June 30 of the following calendar year).

The calculations are based on a database of the National Statistical Institute, according to which the average daily net import for the previous year 2021 amounted to 12,698 tons. In relation to it, the total level of ZIS, providing 90 days of average daily import of the relevant energy products, which our country must maintain for the period from July 1, 2022 to June 30, 2023, amounts to 1,142,837 tons.

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Tags: oil, reserves, Bulgaria, emergency


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