Gazprom's First Annual Loss in Decades Leads to Sale of Holiday Properties
Gazprom, Russia’s state-owned energy giant, has announced plans to sell several of its holiday resorts following its first annual loss in nearly 50 years
Bulgarian Parliament Speaker Mihail Mikov argued Prime Minister Oresharski had been misinterpreted when speaking about South Stream.
Mikov told the Bulgarian National Radio the construction of the pipeline had not been halted. He added that Plamen Oresharski could not have stopped the project, as he does not possess the competences to do so with a private company like South Stream.
"South Stream is a joint venture of the Bulgarian Energy Holding and Gazprom. If it works in compliance with the law, it is performing its duties, all the rest is political talk. I don't see how in a state ruled by the law [such projects] could be stopped with a mere statement," Mikov explained.
Mikov's comments come days after Oresharski announced Sunday Bulgaria was to freeze the South Stream pipeline project until it meets EU norms. He announced the decision after the EU Commission launched an infringement procedure against Bulgaria earlier during the week, citing irregularities around the project.
The Parliament Speaker nevertheless said he did not think an infringement procedure targeting Sofia was under way.
He also denied that any violations could have taken place.
More details around the project are expected later this week after Deputy Prime Minister Daniela Bobeva surprisingly announced Oresharski was to reveal "everything" about South Stream while in Parliament on Friday.
Oil prices increased in early Asian trading this morning after the fall of Syrian President Bashar al-Assad introduced greater uncertainty in the Middle East.
The price of natural gas in Bulgaria is expected to rise by nearly 11% in December, reaching 76 leva per megawatt-hour before taxes and additional charges
The resignations pose a serious risk of prolonged power outages in ten regions just before the holiday season
The European Bank for Reconstruction and Development (EBRD) has approved a loan of up to 50 million euros for Tenevo Solar Technologies EAD to build and operate a solar photovoltaic plant in southeastern Bulgaria
The owner of the Burgas-based oil refinery, Lukoil Neftohim, through its parent company Litasco
Russian energy giant Lukoil has announced plans to sell its largest asset in the Balkans
Bulgaria Ranks Second in the Balkans at Paris 2024 Olympics, 26th Overall
Bulgaria Leads Europe in Heat-Related Deaths in Record-Breaking 2023