State Oil Company

The President of the Republic of Azerbaijan Ilham Aliyev is arriving in our country tomorrow at the invitation of the Bulgarian Head of State Rumen Radev.

The two will attend the official opening of an office of the State Oil Company of the Republic of Azerbaijan (SOCAR) in Sofia.

In May of this year, the State Oil Company of Azerbaijan (SOCAR) will open its office in Bulgaria. This is a sign of the serious intentions to deepen cooperation between the two countries in the field of energy. This was stated by President Rumen Radev after a video conference call with his colleague Ilham Aliyev, which took place in Baku, announced the press office of the head of state.

Caretaker Economy Minister Kiril Petkov Friday said that his ministry is preparing an alert to the prosecution service about a project for "a ministerial complex in Sofia Tech Park".

If the resources of the European Commission's Just Transition Fund are increased, after 31 December, 2024, a green mechanism will be introduced rewarding the countries which have reduced industrial emissions of greenhouse gases.

Bulgaria's MPs approved at first reading the establishment of State Oil Company. The opposition also voted in favor of the proposal. 148 MPs voted in favor, 1 MP voted against and 4 MPs abstained. The draft envisages the creation of nearly 100 state-owned petrol stations on state or municipal land.

The Ministry of Finance proposes the establishment of a "State Oil Company" which will perform all the functions of the state reserve for storage and renewal of oil reserves.

From the first hours of the border closure due to the coronavirus pandemic, Azerbaijan has taken "all possible measures" to help its citizens in Turkey, including those who wanted to return, the country's envoy to Ankara told Anadolu Agency.

State Oil Company of Azerbaijan Republic (SOCAR) is carrying out a detailed feasibility study for participating in Bulgaria's gas distribution market, reports Interfaxenergy. 

Austrian oil and gas group OMV has announced the sale of its Turkish subsidiary Petrol Ofisi to Swiss oil trading giant Vitol for 1.368 billion euros ($1.45 billion).

Prime Minister Alexis Tsipras is expected to get directly involved in the privatization of Greece's natural gas grid operator DESFA in the next few days in a bid to end the impasse in the project.