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
Bulgarian Prime Minister Boyko Borisov revealed Tuesday that he has been invited to Moscow by Russian President Vladimir Putin and Prime Minister Dmitry Medvedev.
Borisov and the Russian officials will discuss the consequences of Bulgaria's decision to abandon the Belene nuclear power plant project last year.
The Bulgarian Prime Minister told reporters on Tuesday that Bulgaria and Russia should decide the fate of the Russian-made nuclear reactor that was initially intended for Belene without resorting to court proceedings.
The exact date of his visit to Russia has not been announced yet.
Borisov's GERB government scrapped the project for the construction of Belene back in March 2012. The move led Russia's Rosatom to file a suit with an international arbitration court in Paris.
After it was first started in the 1980s, the construction of Bulgaria's second nuclear power plant at Belene on the Danube was stopped in the early 1990s over lack of money and environmental protests.
The Belene NPP has been de facto frozen since the fall of 2009 when the previously selected strategic investor, the German company RWE, which was supposed to provide EUR 2 B in exchange for a 49% stake, pulled out.
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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
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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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