The Serbian oil company NIS, majority-owned by Russia’s Gazprom, has officially decided to exit the Bulgarian market. Its Board of Directors has approved the sale of its local subsidiary due to ongoing difficulties in downstream operations within Bulgaria. Specific details surrounding the deal remain undisclosed, pending further clarity. NIS currently operates 22 gas stations in…
The Energy and Water Regulatory Commission (EWRC) has set the price of natural gas for August at 62.09 BGN (31.75 euros) per megawatt-hour (MWh), excluding access, transmission, excise and VAT charges. At this rate, Bulgargaz will supply gas to end users and to licensed producers and distributors of thermal energy, according to an official statement…
In accordance with the Cabinet of Ministers decision, Naftogaz has transferred UAH 10.4 billion in dividends and corporate income tax to the state budget based on its 2024 performance. As directed by the government, Naftogaz has already allocated the rest of its profit to help prepare the country for the winter heating season, including the…
On July 24, a ceremony to hand over heat pump equipment for the Vinochok kindergarten was held in Boryspil (Kyiv region). The equipment was handed over as part of the joint Emergency Recovery and Reconstruction Project with the support of the Japan International Cooperation Agency (JICA). The event was attended by the Deputy Minister of…
In the early hours of July 22, Russian forces launched a drone attack targeting gas extraction facilities operated by Naftogaz of Ukraine, resulting in damage to infrastructure. Recovery efforts are currently underway, Naftogaz CEO Sergii Koretskyi has announced on Facebook. “Overnight, Russia once again carried out a massive attack on our gas infrastructure. Dozens of…
Energy Minister Zhecho Stankov shared encouraging news for Bulgaria’s energy sector, highlighting that financial institutions were prepared to provide funding eight times greater than what was required for the construction of the Vertical Gas Corridor infrastructure. He attributed this favorable development to the positive momentum following Brussels’ announcement confirming Bulgaria’s eurozone entry starting from January…
While offshore wind farms are now almost certainly off the table in Estonia for the next decade or two, transmission system operator (TSO) Elering still plans to move forward with an undersea power link to Latvia via Saaremaa. The Ministry of Climate now acknowledges that the previously planned reverse auction-based subsidy model isn’t suitable for…