The modernization and expansion of production enable new economic opportunities as we transition to cleaner energy. Effectively diversifying supply sources and integrating sustainable, modern technologies will be key to how well Bulgaria can balance economic gains with environmental responsibility and carbon emission reduction. The Minister of Economy and Industry, Dr. Petko Nikolov, said this at the Energy Transition in Transport in Southeast Europe conference, celebrating the 25th anniversary of the Bulgarian Petroleum and Gas Association.
He stressed the need for joint efforts as a guarantee for the country’s economy. “It’s crucial to find collaborative and long-term solutions for issues vital to businesses while also maintaining a balance between businesses and end fuel consumers,” Dr. Petko Nikolov stated.
“Economic activities in Bulgaria’s ‘Refined Petroleum Products Manufacturing’ sector are undeniably of strategic importance for regional economic stability and international trade,” Minister Nikolov said. He added that these activities form the backbone of the transportation system, energy sector, and industry. In his words, the industry plays a crucial role in domestic production and provides thousands of jobs directly in manufacturing and indirectly through related sectors such as logistics, distribution, and services.
Minister Petko Nikolov congratulated the Bulgarian Petroleum and Gas Association on its 25th anniversary. “I hope you continue to be a strong and valuable partner to the Ministry of Economy and Industry in ensuring security and predictability in fuel trade, improving the business environment, and boosting the country’s energy efficiency,” he said.