Bulgargaz Forecasts 5-6% Dip in Natural Gas Prices for May
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
France plans to stop oil and gas production by 2040, and the authorities in the country will stop issuing new permits from next year. This includes a draft law presented at a cabinet meeting yesterday, Bloomberg reports.
Such a move would allow the French government to reject more than 40 research applications that have already been submitted while some existing permits may be extended to comply with existing contracts.
Among them is a mining license near French Guiana, in which Total SA has a share, according to an adviser to Ecology Minister Nicolas Yullo, who spoke to reporters in Paris.
The new legislation "will allow us to free up gradually," Yullo said after the cabinet meeting, also confirming that the current exploration permissions in French Guiana will remain valid.
"This will allow investors to devote more investment to renewable energy, and now the oil and gas leave us dependent on geopolitics," the minister said.
The changes are part of French President Emmanuel Macron's plan to take the lead in tackling climate change after the United States withdrew from the Paris agreement to combat global warming.
Macron's plans include turning France into a fuel-independent country by 2050. It is them who are among the biggest contributors to global warming.
France has extracted the quantity of 6 million barrels of oil in 2015, covering only 1% of its demand, according to data submitted to the cabinet. France's exploration and production of oil and gas generates annual revenues of about EUR 300 million and directly or indirectly provides about 5000 jobs. Existing production licenses will not be extended beyond 2040 under the proposed law.
While French oil and gas production can be determined to be relatively small, changes may affect companies such as Vermilion Energy Inc., which has several concessions, and will virtually reduce its prospects for discoveries of new deposits near French Guiana.
According to the plan submitted in July, France will cease selling gasoline and diesel cars by 2040.
In addition, it will gradually increase fossil fuel taxes by 2022 and invest more in renewable energy sources.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a sign of the changing climate's impact on agriculture, Bulgarian farmers are gearing up for an early start to the wheat and barley harvest this year as soaring temperatures hasten crop ripening
Online gambling and casinos are becoming quite the attraction for players and enthusiasts alike.
Online sports betting has taken the world by storm, offering enthusiasts an exciting way to engage with their favorite sports.
In response to the ongoing war between Russia and Ukraine, the European Commission has greenlit a significant aid package for Bulgarian farmers, totaling approximately 86.9 million euros
If you compare today's casino experience with two decades back, you can tell that a lot has changed.
Game distributors and casino sites want to be as accessible and user-friendly as possible.
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022