Oil Prices Hit 5-Month Highs
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The importance European Parliament's resolution demanding that the South Steam project be stopped "should not be exaggerated" Bulgaria's Foreign Minister said on Tuesday.
Vigenin described the document, which was voted last week, as a "result of the EP's emotional plea for a more rapid political and economic stabilization of Ukraine," as he was quoted by Dnevnik.bg as saying.
He underscored that, unlike many other issues, the South Stream gas pipeline project is a priority both for the government and the opposition.
Citing the 2009 gas crisis which followed a dispute between Moscow and Kiev as an example, the Bulgarian Foreign Minister said instability in the region was among reasons for the lack of safety of energy supplies, but added that the South Stream was not a Ukrainian concern.
Vigenin's words come amid uncertainty among European Union member states over possible reactions to the standoff between Russia and Ukraine, which some suggest should involve expanding sanctions against Moscow.
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The Bulgarian Parliament has ratified the Agreement between the Government of the Republic of Bulgaria and the Government of the United States on cooperation regarding the construction of nuclear power at the Kozloduy Nuclear Power Plant
During a forum in Alexandroupolis, US Assistant Secretary of State for Energy, Jeffrey Payatt, highlighted the significance of a gas pipeline project through Bulgaria as the next pivotal step for energy development in the region
Prime Minister Nikolai Denkov addressed concerns over the long-term storage of nuclear waste during a parliamentary control session in Bulgaria today
Effective March 1, Bulgaria has officially halted the use and importation of Russian oil for fuel production, following a decision by the Parliament to drop the derogation
"Bulgargaz" suggests an 18% decrease in natural gas prices starting next month
In a recent report released by the Institute for Energy Economics and Financial Analysis (IEEFA) on Wednesday, it was revealed that demand for natural gas in Europe experienced a significant decline last year, dropping to its lowest level in a decade
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