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The Council of Ministers adopted a Decree on the adoption of the Regulation on the structure, structure and activity, powers and obligations of the governing bodies of the State Company “State Petroleum Company”, announced the press service of the Cabinet.
On July 21, 2020, number 65 of the Official State Gazette promulgated the Law of Reforms to the Law of State Reserves and Stocks in Time of War, recalls the press release. Paragraph 2 of this law establishes the Second Chapter “a” “State company” State oil company “, whose provisions regulate the constitution of a legal person with registered office in Sofia, with the status of a State company in the sense of paragraph 3 of the Article 62 of the Commercial Law. Its activity object is the creation, storage, protection, renovation and sale of state reserves and stocks of oil and petroleum products in time of war in accordance with this Law. Creation, storage, renewal and sale of petroleum stocks and petroleum products in accordance with article 2, paragraphs 1 and 2 of the Petroleum and Petroleum Products Stock Act, as well as the management, maintenance, operation and construction of petroleum deposits for storage of reserves and stocks of petroleum and petroleum products.
The board of directors of the state-owned company is expected to consist of three members, including a president, an executive director and a deputy executive director. The members of the Board of Directors and the Executive Director of DPDPK will be appointed by the Minister of Economy under the terms and conditions of the Public Companies Law, the Regulations for its implementation and the applicable legislation.
The preliminary draft Regulation provides that the state-owned company will be structured in the General Directorate, which includes an address: “Reserves and stocks of oil and petroleum products”, a direction “Administration, financial, information and legal security”, a security officer. information and financial controller. The territorial units are foreseen in the General Directorate: oil deposits for the storage of reserves and stocks of oil and petroleum products.
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