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2015-12-01 19:45:00

BULGARIA SUPPORTS RUSSIA

BULGARIA SUPPORTS RUSSIA

Bulgarian Prime Minister Boiko Borisov said on Monday his government supported Russia's plans to extend its gas link to Germany.

A copy of a letter seen by Reuters last week named Bulgaria as one of 10 countries that raised concerns the Nord Stream II project could run counter to European Union interests and risk further destabilising Ukraine.

Borisov, however, said Bulgaria would not sign the letter, which said the project should come under close regulatory scrutiny and called for a debate at next month's EU summit.

"I will defend the position for the construction of Nord Stream II and (a) gas hub in Bulgaria - it is advantageous for the country and nobody can reproach me for that," Borisov told reporters.

In September, a group of European companies signed an agreement with Russia's Gazprom to expand its Nord Stream pipeline to Germany, bypassing Ukraine.

"Bulgaria will not sign a letter against Nord Stream II," Borisov said.

"I continue to believe that a distribution centre, hub or whatever you call it, in Bulgaria, to collect liquefied gas, including Russian gas, is a reality. It was set in the decisions of the EC (European Commission)."

Bulgaria wants to build a gas storage and distribution facility which could help the Black Sea state diversify supplies and become a regional hub following the suspension of the South Stream pipeline project.

Bulgaria has proposed the facility be built near the city of Varna - where the South Stream pipes were supposed to come out of the Black Sea - and has said it would cooperate with Russia to build a pipe to the Bulgarian coast.

The South Stream project was meant to supply 67 billion cubic metres of gas a year to Europe.

On Sunday, Energy Minister Temenuzhka Petkova said Bulgaria had not signed the letter that raised concerns over the Nord Stream gas extension, adding the issue must be first discussed in the Council of Europe and the Bulgarian government.

reuters.com

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More: 

RUSSIA & GERMANY UNCONCERNED 

RUSSIAN - GERMAN NORD STREAM 

RELIABLE PARTNERS FOR EUROPE 

REALISTIC NORD STREAM 

POLAND VS NORD STREAM

 

 

 

Tags: RUSSIA, BULGARIA, NORD, STREAM, GAS, PIPELINE

Chronicle:

BULGARIA SUPPORTS RUSSIA
2018, August, 17, 11:30:00

U.S. INDUSTRIAL PRODUCTION UP 0.1%

U.S. FRB - Industrial production edged up 0.1 percent in July after rising at an average pace of 0.5 percent over the previous five months. Manufacturing production increased 0.3 percent, the output of utilities moved down 0.5 percent, and, after posting five consecutive months of growth, the index for mining declined 0.3 percent. At 108.0 percent of its 2012 average, total industrial production was 4.2 percent higher in July than it was a year earlier. Capacity utilization for the industrial sector was unchanged in July at 78.1 percent, a rate that is 1.7 percentage points below its long-run (1972–2017) average.

BULGARIA SUPPORTS RUSSIA
2018, August, 17, 11:25:00

NORWAY'S PETROLEUM PRODUCTION: 1.911 MBD

NPD - Preliminary production figures for July 2018 show an average daily production of 1 911 000 barrels of oil, NGL and condensate, which is an increase of 64 000 barrels per day compared to June.

BULGARIA SUPPORTS RUSSIA
2018, August, 17, 11:20:00

GAZPROM NEFT NET PROFIT UP TO 49.6%

GAZPROM NEFT - For the first six months of 2018 Gazprom Neft achieved revenue** growth of 24.4% year-on-year, at one trillion, 137.7 billion rubles (RUB1,137,700,000,000). The Company achieved a 49.8% year-on-year increase in adjusted EBITDA, to RUB368.2 billion. This performance reflected positive market conditions for oil and oil products, production growth at the Company’s new projects, and effective management initiatives. Net profit attributable to Gazprom Neft PJSC shareholders grew 49.6% year on year, to RUB166.4 billion. Growth in the Company’s operating cash flow, as well as the completion of key infrastructure investments at new upstream projects, delivered positive free cash flow of RUB47.5 billion for 1H 2018.

BULGARIA SUPPORTS RUSSIA
2018, August, 15, 11:10:00

OIL PRICE: NEAR $72

REUTERS - Front-month Brent crude oil futures LCOc1 were at $72.34 per barrel at 0648 GMT, down by 12 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 23 cents, or 0.3 percent, at $66.81 per barrel.

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