Turkey's Erdogan: Eurovision is a Threat to Family Values
For the past 12 years, Turkey has deliberately refrained from participating in the Eurovision Song Contest, with President Recep Tayyip Erdogan criticizing the event
TransAtlantic Petroleum, which recently acquired 100% of Direct Petroleum Bulgaria, has registered a larger than expected loss in the second quarter of 2011.
The Texas-based oil company, which has oil and gas developments in Bulgaria, Romania, Turkey, and Morocco, saw an April-June loss of USD 20.6 M, or 6 cents a share, compared with USD 16.4 M, or 5 cents a share, last year, international media report.
TransAtlantic's total costs rose 67% to USD 39.9 M. However, the company revenue jumped 91% to USD 35.5 M on higher production, which rose 59%.
TransAtlantic Petroleum has cut its 2011 production target to 7 000-7 500 barrels of oil equivalent per day, down from 10 000.
The company has announced it hired FirstEnergy Capital as a financial advisor as it plans to sell its Morocco assets and is looking for partners for its developments in Bulgaria, Romania and central Turkey.
In February 2011, Texas-based company TransAtlantic Petroleum acquired 100% of Direct Petroleum Bulgaria EOOD. Novinite.com's November 2010 interview with the head of Direct Petroleum Bulgaria Kolyo Tonev read HERE
The deal with Direct Petroleum Exploration, Inc. was closed on February 18, 2011, TransAtlantic Petroleum said in a statement.
TransAtlantic Petroleum Ltd. is a vertically integrated, international energy company engaged in the acquisition, development, exploration, and production of crude oil and natural gas. The company holds interests in developed and undeveloped oil and gas properties in Turkey, Morocco, Romania, and Bulgaria.
It owns its own drilling rigs and oilfield service equipment, which it uses to develop its properties in Turkey and Morocco. In addition, the Company provides oilfield services and contract drilling services to third parties in Turkey and plans to provide similar services in Morocco.
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During a briefing at the Ministry of Energy, it was revealed that Bulgargaz intends to pursue legal action against Gazprom Export, seeking damages amounting to BGN 400 million
"Toplofikatsia Sofia," the capital's heating supply company, has proposed a significant reduction in the price of thermal energy starting from July 1st
The Kozloduy Nuclear Power Plant (NPP) in Bulgaria is set to embark on a significant transition as it begins the process of replacing Russian nuclear fuel with American fuel from Westinghouse
Bulgargaz, the leading public gas supplier in Bulgaria, anticipates a notable decrease in the price of natural gas for the upcoming month of May. According to Lyudmila Vitanova
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
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