Bulgaria's energy market remains a comparatively challenging place to operate with continued cases of fraud being investigated in both the upstream issuance of licences, and in the transparency of downstream exports. Bulgaria's Commission for Protection of Competition (CPC) opened a formal investigation in February 2016 against seven petrol and diesel fuel retailers in addition to the Neftochim refinery. These retailers are suspected of entering a price-fixing cartel and abusing its dominant market position on the wholesale market. Following the eight month investigation, the CPC said in October 2016 that it had found evidence of a cartel agreement between fuel retailers Shell Bulgaria, OMV Bulgaria, NIS Petrol, Eco Bulgaria, Lukoil Bulgaria and local petrol distributor Petrol. Nevertheless, no mention was made of the Lukoil Neftochim refinery. In May 2017, Neftochim was cleared from the investigation, with no signs of wrongdoing.

BMI Industry View

SWOT

Oil & Gas SWOT

Industry Forecast

Upstream Exploration

Upstream Production - Oil

Upstream Production - Gas

Refining

Refined Fuels Consumption

Gas Consumption

Trade - Oil

Trade - Gas (Pipeline And LNG)

Industry Risk/Reward Index

Upstream Oil & Gas: Polarised Rewards Characterise Regional Scoring

Downstream Oil & Gas Risk/Reward Index - Higher Risk Negates Capacity

Upstream Risk/Reward Index

Downstream Risk/Reward Index

Market Overview

Bulgaria - Energy Market Overview

Oil And Gas Infrastructure

Competitive Landscape

Company Profile

Lukoil Neftekhim

Shell Bulgaria

Total

Regional Overview

CEE Region: Overview

Oil & Gas Glossary

Bulgaria Oil & Gas Report | Q2 2018

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Methodology