Head of State Reserve, Assen Asenov: “Fuel stocks in Bulgaria are available and fit for use.”

Asen Asenov, Chair of the State Reserve and Wartime Stocks Agency, on March 10 confirmed that Bulgaria’s fuel stocks are sufficient, fit for use, and that the state is prepared to act if necessary.

Asenov spoke during an extraordinary sitting of the Parliament, which also heard from Deputy Finance Minister Stanimir Mihaylov, the Director of the Customs Agency of Bulgaria, Georgi Dimov, and the special commercial manager of Lukoil Neftochim Burgas, Rumen Spetsov, regarding the country’s readiness to ensure sufficient fuel supplies for households and industry amid the crisis caused by the blockade of the Strait of Hormuz.

Spetsov reiterated that for March, the necessary crude oil quantities for processing at Lukoil Neftochim Burgas have been secured.

“In monthly reports to the European Commission, Bulgaria records 85 days of fuel coverage out of the required 90,” Asenov reported. “This currently corresponds to a total of 1.7 million tonnes, of which around 780,141 tonnes are stored in Bulgaria and approximately 222,220 tonnes in other EU member states.”

Inspections confirm both the availability and quality of fuel stocks in the country, as well as the reserves held abroad by similar state reserve structures in other EU member states.

“If necessary, stored reserves from the State Reserve can reach the domestic market within 5 to 15 working days, and reserves held abroad within 15 to 45 days,” Asenov added.

Source: BTA