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
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Customs agency head Vanyo Tanov has said authorities are now inspecting Lukoil Neftochim over accusations of price rigging hurled in a report.
Last week the Risk Management Lab, a think-tank headed by former Prime Minister (1997-2001) claimed that for 8 years Lukoil Bulgaria had been manipulating prices of the Urals crude imported for its Bulgaria-based facility in Burgas.
The company disputed this, threatening it would take Kostov to court. The latter for his part demanded that his think-tank be granted access to crude import contracts sealed by Lukoil, adding his calculations were based on data submitted to the Customs Agency.
Tanov on Monday told private national NOVA TV station an inspection had to be carried out by the National Revenue Agency (NAP) as well.
In his words, an audit will also be needed to confirm or refute suggestions by Kostov. "Only [by using] data from one of the institutions a precise conclusion cannot be made," Tanov said.
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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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