Bulgaria: Finance Ministry Ready with Budget Update
Bulgarian Finance Ministry is ready with a draft budget update, which will be submitted when a working parliament is formed.
The Bulgarian project company established for the Burgas-Alexandroupolis oil pipeline, which was suspended several years ago, will undergo a senior-level reshuffle as of March 31.
According to Business Register data, as cited by mediapool.bg, the current Executive Director of "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD, Anzhel Dimitrov, will be replaced by Alexander Gargov, member of the Board of Directors of the company.
Gargov headed the company in the period July 2010 – March 2011 and December 2011 – present.
Apart from Gargov, Ivan Ivanov also leaves the Board of Directors of the company.
The BoD welcomes two new members, Mariya Veselinova and Nikolay Lyubenov.
Veselinova will be Chairperson of the Board of Directors of "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD.
Bulgaria’s government announced its decision to stop the Burgas-Alexandroupolis project in end-2011.
The intergovernmental agreement with Russia and Greece was terminated by Bulgaria’s parliament in March 2013.
However, "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD continues to exist.
The project company has a staff of four people, including three BoD members.
The principal of "Project Company Oil Pipeline Burgas-Alexandroupolis - BG" EAD is Bulgaria’s Finance Ministry.
According to a statement of the Finance Ministry, the project company will continue to exist until the closure of the international project company Trans-Balkan Pipeline B.V., where the Bulgarian company controls a 24.5% stake.
Ukraine's parliament, the Verkhovna Rada, has passed a law allowing the purchase of two Russian-made nuclear reactors originally intended for Bulgaria's Belene Nuclear Power Plant
Ukraine's parliament has given the green light for the acquisition of two nuclear reactors initially intended for Bulgaria's Belene Nuclear Power Plant (NPP)
For the ninth consecutive year (excluding 2022), the electrical industry remains the largest contributor to Bulgaria's exports, as reported by the Bulgarian Association of Electrical Engineering and Electronics (BASEL)
European natural gas prices have climbed above €55 per megawatt-hour for the first time in 16 months, driven by colder temperatures across the continent that are increasing demand for heating fuel
Serbian oil and gas company NIS, controlled by Russia’s Gazprom, is considering exiting its operations in Bulgaria and Romania due to ongoing difficulties in both markets
The Russian company Lukoil initiated the process of selling its Bulgarian assets in June last year, Prime Minister Rosen Zhelyazkov announced during a parliamentary hearing
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