Bulgaria: Pension Boost Restored After Backlash Over Reduced Increase
The Bulgarian government has decided to increase all pensions starting July 1
Bulgaria's Finance Minister, Asen Vassilev, addressed concerns about potential fuel shortages following "Lukoil's" deliberations on selling its business in the country. The reassurance came during Vassilev's visit to the "Capitan Andreevo" border crossing alongside European Commissioner Mareid McGuinness, as reported by BTA.
Vassilev clarified that the ministry had received prior indications of Lukoil's contemplation of selling its Burgas-based refinery. Emphasizing the company's prerogative to make independent decisions about its assets and operations, he highlighted the need for state representation to secure the refinery's continuity, preferably with a strategic investor, ensuring Bulgaria's interests remain safeguarded.
The Russian oil giant's announcement today detailed their strategic revision in Bulgaria due to what they termed "significant changes in conditions." These conditions encompassed the expiration of Lukoil Neftohim refinery's exemption from the EU ban on Russian oil imports, additional profit taxation, and the imperative modernization to process non-Russian oil.
Vassilev's assertion about Bulgaria's fuel stability amid these developments alleviated concerns regarding potential disruptions in the supply chain.
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
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability