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Friday, 20 September 2013

Bulgaria Oil and Gas Report Q4 2013:Energy & Power Market Research Reports

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Bulgaria Oil and Gas Report Q4 2013
Sep 18th 2013, 00:00, by swapnil

BMI View: The Bulgarian business environment remains challenging with ongoing conflicts between Lukoil and Customs authorities downstream and a moratorium on hydraulic fracturing upstream. Bulgaria’s oil sector is uninspiring with limited new activity and a continued decline in domestic production. Upside in Bulgaria’s oil and gas sector comes from the US$1.2bn investment to upgrade the Neftochim refinery which will add a 50,000 barrel per day vacuum distillation unit, while the natural gas sector is looking increasingly positive. New gas projects being brought online both on and offshore will add to domestic output, as well as growing prospects from offshore seismic …

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