Temenuzhka Petkova

Bulgaria gave the green light to Shell Exploration and Production (LIX) B.V. on Tuesday to conduct deep-water oil and gas exploration off its Black Sea coast.

The permit for prospecting and exploration activities at Blocks Silistar 1-14 has been awarded for a period of five years, the government in Sofia said in a statement.  

Bulgarian Energy Minister Temenuzhka Petkova has turned down a proposal by employers' organizations that potential investors should be sought to replace AES and ContourGlobal as shareholders at thermal power plants.

A contractor is expected to be selected in early December for the construction of a gas pipeline interconnection with Romania under the Danube river bed, Bulgaria's Energy Minister Temenuzhka Petkova said on Friday.

Shell Exploration and Production (LIX) B.V. has been awarded a permit for the prospection and exploration of oil and natural gas at Bulgaria's Black Sea Silistar Block 1-14, according to an announcement of Energy Minister Temenuzhka Petkova.

The participants in a discussion on Bulgaria's energy exchange agreed that legal amendments were to pave the way for a change of the model so that the full liberalization of the market was achieved by the beginning of 2016.

Bulgaria's government is preparing the full liberalization of the energy market, which is expected to solve the financial problems of the sector and guarantee a fair price for household and industrial consumers, according to Energy Minister Temenuzhka Petkova.

Fitch Ratings has downgraded Bulgarian Energy Holding EAD's (BEH) long-term foreign and local currency ratings one notch to 'BB-' from 'BB'.

BEH's foreign currency senior unsecured rating was also lowered to 'BB-' from 'BB'.

The outlook is negative, the rating agency said in a statement.

Representatives of the business sector will take part in the work of the company boards of all state-owned energy firms, according to a decision adopted at a meeting between Prime Minister Boyko Borisov, Energy Minister Temenuzhka Petkova, Delyan Dobrev, Chair of the parliamentary energy committee, and employers' associations.

Bulgaria is seeking to reach a deal with Russia on a project that would lead to the construction of a natural gas hub on its territory, Bulgaria's Ambassador to Moscow has said.
 

The mining industry generates 5% of Bulgaria's GDP and provides jobs for over 24 000 people, according to Energy Minister Temenuzhka Petkova.

Petkova attended Saturday the 50th anniversary celebration of Bulgarian mining company Asarel-Medet AD.

She noted that around 300 companies operated in the sector.