Economy of Russia

Bulgaria’s President blamed the "Petkov" Cabinet for the New Gas Price and Defended Talks with Gazprom

President Rumen Radev described as shocking the price of natural gas for September after returning from an official visit to the UAE. Yesterday, the Commission for Energy and Water Regulation (EWRC) decided that it would rise the price by nearly 19% compared to August and make it BGN 353.21/Mwh.

"Gazprom" with Record Profits

Russian state-backed energy company Gazprom is ready to pay the Kremlin 2.5 billion rubles after posting record profits.

The company reported a net profit of 2.5 billion rubles for the first six months of this year. Oil and gas prices rose during that period, pushed up by supply concerns following Russia's invasion of Ukraine.

Bulgaria: "Toplofikatsia Sofia" Owes 399 Million Levs to "Bulgargaz"

"Toplofikatsia Sofia (Heating Systems Sofia) owes BGN 399 million to Bulgargaz," Denitsa Zlateva, executive director of Bulgargaz, announced on BNT.

She reminded that "Bulgargaz" cannot by law stop the supply of gas to heating companies and will seek new loans from the Ministry of Energy.

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