Possessor LLC

Possessor LLC (Latvian: SIA "Possessor") is a Latvian state-owned company operating under the supervision of the Ministry of Finance of the Republic of Latvia. Its primary responsibilities include the management and maintenance of the state's oil product security reserves, as well as the organisation of auctions for state-owned movable and immovable property, including privatisation auctions. The company's official website, possessor.gov.lv, serves as a central platform for announcing active auctions, providing information on state fuel reserves, and offering public updates on reserve acquisition progress. According to the website, Latvia has already secured more than 50% of the required state-owned oil product security reserves, ahead of schedule. The company also handles first-necessity goods stocks and state fuel reserves, positioning itself as a key instrument of national energy security rather than a market regulator. Possessor LLC is not a commercial brand in the traditional sense but a state-owned enterprise fulfilling public functions. Its operations are funded and directed by the Latvian state, and it does not compete in consumer markets. The company's activities are closely tied to Latvia's obligations as an EU member state to maintain emergency oil stocks. The website features news items, auction listings, and cookie settings, indicating an active public-facing portal. As of the evidence, the company remains active and continues to manage state reserves and auctions.

Possessor LLC is a Latvian state-owned company established to manage state reserves and property. Its exact founding date is not provided in the evidence. The company operates under the Ministry of Finance and is responsible for maintaining Latvia's oil product security reserves, a requirement linked to EU directives on emergency oil stocks. The official website, possessor.gov.lv, indicates that as of March 2026, Latvia had secured more than 50% of the required reserves, ahead of schedule. The company also conducts electronic auctions for state-owned properties, including privatisation auctions, with listings such as apartments in Daugavpils and a property in Jūrmala. The website provides news updates, auction details, and information on first-necessity goods stocks. The company's role is primarily regulatory and operational in the public interest, ensuring energy security and efficient disposal of state assets.

• Latvia ahead of schedule in acquiring state oil product security reserves – more than 50% of required stocks secured in state ownership

• Update on current situation with state oil product security reserves

• Publication: State fuel reserves: A safety cushion for a critical hour, not an instrument for regulating fuel prices

State-owned enterprise ensuring national energy security and managing state asset sales.

• State oil product security reserves

  Management and maintenance of Latvia's emergency oil stocks.

• State property auctions

  Electronic auctions for state-owned movable and immovable property, including privatisation auctions.

• First-necessity goods stocks

  Management of stocks of essential goods for emergency situations.

1. 1Possessor official websitepossessor.gov.lv
2. 2Possessor LLC - Wikidatawikidata.org