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Commenting article: Black Sea Oil Rush - Why Not in Bulgaria?

2010 has been marked by a noteworthy development which saw major oil companies – spearheaded by American ones – turning their gaze towards the largely untapped oil sources of the Black Sea.

Oil in the Black Sea – a rapid development

In what is maybe the most spectacular deal, in June US giant Chevron teamed with Russian colossus Rosneft to create a joint venture to explore Russian Black Sea waters. The Romanians were not far behind, and after resolving a shelf dispute with neighboring Ukraine, swiftly moved to give no less than 5 permits over the summer to a number of companies, including once again a Russo-American consortium, this time between Lukoil and Vanco. Ukraine itself is claiming it has some 90 oil and gas structures, with about 20 of them ready to be developed.

Dino the Athenian - 25 Nov 2010 // 23:18:49

I hope BG both finds and safely extracts enough oil and gas towards becoming self-reliant and energy independent.

Bulgaria news (Sofia News Agency - 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." (Sofia News Agency - 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