MELROSE UNIT GETS BG GAS CONCESSION

Business | May 17, 2001, Thursday // 00:00

Petreco S.A.R.L., a subsidiary of Scotland-based Melrose Resources Plc., will invest more than $65 M in the commercial development of Bulgaria`s Galata gas field. Luxembourg-based Petreco and its daughter firm Petreco Bulgaria signed a 25-year concession agreement with Bulgaria`s State Energy Agency and will start development as soon as they seal sales contracts with local consumers. This year`s gas consumption in BG is estimated at 3.6 B cubic meters. Texaco Inc. and Enterprise Oil discovered the Galata deposit in 1993.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article

Advertisement
Advertisement
More from Business

Stricter BNB Regulations in Bulgaria Restrict Home Loans for 10% of Low-Income Applicants

Approximately 10% of individuals who previously qualified for home loans will no longer be eligible under new regulations set by the Bulgarian National Bank (BNB)

Business » Finance | September 15, 2024, Sunday // 17:34

European Commission Reminds Bulgaria of 2038 Coal Phase-Out Deadline

Bulgaria has committed to phasing out coal by 2038, a reminder included in the European Commission's annual report on energy across the EU

Business » Energy | September 15, 2024, Sunday // 16:52

Uncontrolled Chinese Goods Create Economic and Environmental Challenges for Bulgaria and Europe

Chinese online trading platforms are inflicting significant financial damage on European and Bulgarian manufacturers

Business | September 14, 2024, Saturday // 19:07

One in Four Bulgarians Struggles to Afford Winter Heating

One in four Bulgarians is unable to afford heating during the winter months

Business » Energy | September 14, 2024, Saturday // 18:49

Bulgaria's Services Sector Grows 4.2% Year-on-Year in June, Outpacing EU Trends

In June, Bulgaria's services sector saw a monthly production increase of 0.6 percent, while Eurostat data showed a decline in the EU for the same period

Business | September 12, 2024, Thursday // 17:21

Rounding Issues in Euro Conversion Law Could Impact Bulgarian Transition

Recent changes to the Law on Payment Services and Payment Systems regarding the adoption of the euro have raised concerns among legal experts about potential contradictions with the already enacted Law on the Introduction of the Euro

Business » Finance | September 12, 2024, Thursday // 12:05
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria