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Sat05192012

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Chevron to Convince Romania Shale Gas is 'Clean'

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US energy giant Chevron has issued a statement saying it will embark on a campaign to convince that exploration and production of shale gas is environmentally safe.

End of last week the Romanian government granted Chevron a permit to explore for shale gas in the south-east sections of the country, just accross the land border with Bulgaria.

Bulgaria to Face Penalties Exceeding USD 58 M over Belene NPP Suspension

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Bulgaria faces penalties amounting to way over USD 58 M over the cancellation of the Belene NPP project, Russian media warn.

Citing sources from Russia's state-owned nuclear corporation Rosatom, Moscow-based business daily Vedomosti reports that this is the cost of the already carried out preparatory works on the site near the northern Bulgarian town of Belene.

Bulgarian Ambassador to US Backs Shale Gas Exploration

Bulgarian Ambassador in Washington DC, Elena Poptodorova, says that the subject of shale gas exploration in the country must be examined more calmly.

Speaking for the Bulgarian State TV BNT, the Ambassador stressed that the government must work on securing even larger US investments in Bulgaria, which would greatly contribute to the country's advancement.

Russia Determined to Build Trans-Balkan Pipe, Cut Costs

Russia has reiterated its determination to construct the Burgas-Alexandroupolis oil pipeline and reduce the price tag of the project, following Bulgaria's withdrawal.

This was confirmed by Trans-Balkan Pipeline consortium advisory board member Mikhail Barkov, as cited by RIA Oreanda-News.

South Stream Sticks with Bulgaria

By Kostis Geropoulos, New Europe

South Stream Transport AG, the offshore company developing the Russian-backed natural gas pipeline, told New Europe that it is sticking with its plans with a landfall in Bulgaria and is looking at a final investment decision for the offshore section in late November, and construction to start in December. "For South Stream Transport I can say that we are planning as a base case with a landfall in Bulgaria.

Bulgarian Fuel Prices Hits New Record

Fuel prices in Bulgaria have climbed to a new record high with the start of the new week amid an oil price spike on international markets.

Over the weekend, Bulgaria's Lukoil Neftochim refinery increased prices of the most common type of gasoline, A95, by 2% and prices of diesel by 2.5%.

Bulgaria Launches Largest Photovoltaic Park on Balkans

Bulgaria launched with an official commissioning ceremony the largest photovoltaic park in the Balkans.

The installations near the village of Samovodene and the town of Zlataritsa were built by the South Korean companies SDN and KOSEP. The total power of the parks is 42 MW with an annual electricity production of 61 320 MWh, which will provide electric power for 2 000 households.

Fuel Prices in Bulgaria Hit New Record High

Fuel prices in Bulgaria have climbed to a new record high amid an oil price spike on international markets triggered by the escalation of a dispute over Iran's nuclear program.

After at the end of last week crude oil prices hit USD 120 per barrel, a peak not seen since last August, Bulgaria's Lukoil Neftochim refinery increased prices of the most common type of gasoline, A95, by 1.7% and prices of diesel by 1.41%.

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