Market Report, "Bulgaria Oil & Gas Report Q3 2013", Published
Refinery operator Lukoil has made peace with the Bulgarian authorities and appears committed to renewed downstream oil investment, as well as showing interest in upstream activities. Bulgaria's upstream prospects rest on early and significant success at Black Sea drilling operations. It had been thought that shale gas prospects could stimulate long-term supply, but the ban on hydraulic fracturing (fracking) means there is little chance of progress, thereby frustrating international oil company (IOC) partners involved in early deals. Increased renewables usage...
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