The state-owned "Agropolichim" JSC (Devnya) owes interests in the amount of BGL 2 billion to "Bulgargas" JSC. The principal amounts to BGL 220 million.
Source: Pari (04.01.1997)

The state-owned "Bulgargas" JSC and CB "Biochim" JSC will participate in the establishment of a Bulgarian-Russian company for barter payments of the natural gas. It is anticipated that Bulgaria and Russia will hold equal parts of the shares of the company.
Source: Trud (13.01.1997)

The uncollectable credits of the state-owned "Bulgargas" JSC are in the amount of BGL 52 billion. Among the major debtors of the company is the Atomic Power Station "Devnya" with BGL 1,9 billion. The company has signed contracts for the payment of the debts of "Lecko-Co" (Radomir) and "Kamet" (Pernik).
Source: Pari (13.01.1997)

The Belgium company "Solvey" and the Thermal Power Station "Devnya" will sign a 15-year agreement for the delivery of technoligical steam for the state-owned "Sodi" JSC (Devnya). The Belgium company insists on an increase of the share of the thermal energy made of coal because of a decrease of the dependence of "Bulgargas".
Source: Pari (20.01.1997)

The Executive Director of "Bulgargas" JSC, Mr. Petar Subev was dismissed from the Board of Directors at his will. The Council of Ministers decided that "Bulgargas" enters the Supervisory Board of CB "Biochim". "Bulgargas" intends to establish a joint-venture with the Russian company "Invest Market" for gas-supply for goods.
Source: Pari (24.01.1997)

"Bulgargas" JSC will stop the supplying of natural gas because of unpaid debts of 3 enterprises of the Sliven District: "Kvartz" JSC, "Bulgartzvet-Sliven" JSC and "Rodopa-Sliven" JSC. The plants owe the amount of BGL 620 million.
Source: Trud (30.01.1997)

The Members of the Board of the Directors of the state-owned "Bulgargas" JSC were decreased from 9 down to 7, according to an order of the Council of Ministers. From the Board of the Director were dismissed Roumen Ovcharov, Ivan Peichev, Nedelcho Popov and Stoyan Kyuchukov. On their places were appointed Angel Semerdzhiev, Pavel Marinov and Alexander Belovezhki.
Source: Kontinent (31.01.1997)

The state-owned "Bulgargas" JSC will decrease the supplies of natural gas to its major debtors. These are the following state-owned enterprises: "Agropolichim" JSC (Devnya), "Neftochim" JSC (Bourgas), "Kremikovtzi" JSC (Sofia), "Antibiotic" JSC (Razgrad), "Agrobiochim" JSC (Stara Zagora) and "Plevenski Tziment" JSC (Pleven).
Source: Kontinent (31.01.1997)

The Ministry of Energetics will become principal of the state-owned "Bulgargas" JSC and the Ministry of Industry-of the state-owned "Neftochim" JSC.
Source: Pari (07.02.1997)

The Council of Ministers will have the rights of an owner of the capital of the state-owned "Bulgargas" JSC, decided the Council of Ministers..
Source: Pari (14.02.1997)

The Council of Ministers appointed new Board of Directors of the state-owned "Bulgargas" JSC. Its members are: Petar Subev-former Executive Director of the company, Vasil Philipov-chief expert of the company, Penko Dimitrov-chief jurisconsult of the company, Stefan Stavrev-Deputy Minister of Industry, Hristo Gurov and Emil Milkov from the Ministry of Energetics.
Source: Pari (18.02.1997)

The state-owned "Bulgargas" JSC started the construction of the national gas main in the neighbourhood of Sevlievo. The design and the construction will cost USD 2,4 million.The money is granted by "American Standard Inc.".
Source: 24 chasa (19.02.1997)

The state-owned "Bulgargas" JSC will gradually stop the supply with natural gas to companies which have not paid their bills for January, 1997. These are the state-owned: "Chimko" JSC (Vratza), "Kremikovtzi" JSC (Sofia), "Antibiotic" JSC (Razgrad) and "Latex" JSC (Byala).
Source: Pari (21.02.1997)

Stefan Stavrev was elected Chairman of the Board of Directors of the state-owned "Bulgargas" JSC. The other members are: Petar Subev-Dep. Chairman, Penko Dimitrov, Vasil Philipov, Hristo Burov, Emil Milkov nd Hristo Stankov. The company is represented and managed by the Executive directors Petar Subev and Vasil Philipov.
Source: Kontinent (21.02.1997)

"Overgas" Ltd bought the shares of the state-owned "Bulgargas" JSC in "Montangas" JSC for the amount of BGL 300,000. In this way "Overgas" Ltd became an owner of 64 per cent of the shares of the company. The remaining shares are owned by "Bulrosgas" Ltd and the Montana Municipality.
Source: Kontinent (24.02.1997)

The German holding "Zimmermann&Janseen", the state-owned "Bulgargas" JSC and "Gemet" JSC established a Bulgarian-German company for the production of gas fixtures.
Source: Pari (06.03.1997)

CB "Biochim" and "Bulgargas" JSC have become shareholders in the Bulgarian-Russian trade company "Intertrust Investment Trade". The company has to service trade between both countries and the export of fuel from Russia. The other shareholders in the joint-venture company are the Russian companies "Stolichnii sberezhnii Bank" and "Inter Investmarket"
Source: Banker (17.03.1997)

The state-owned "Bulgargas" JSC stopped the gas supply for the state-owned "Neftochim" JSC because of its debts to "Bulgargas", which amount to BGL 14 billion.
Source: Pari (21.03.1997)

The Supreme Court did not took into consideration the appeal of "Multigroup" JSC on the law suit against the state-owned "Chimko" JSC (Vratza). The state-owned company will not pay BGL 1 billion according to the cession contract from September, 1995, providing for gas supply through the state-owned "Bulgargas" JSC.
Source: Kontinent (04.04.1997)

The interim government decided to introduce a 4 per cent retail surcharge for natural gas distributors instead of pegging the gas price to the fuel oil price as before. Our proposal was for a minimum of 6 per cent, said Mr. Vasil Phillipov - Executive Director of "Bulgargas" JSC.
Source: Pari (20.05.1997)

The loses of "Bulgargas" are in the amount of USD 300,000 per day because of the high price of the supply of natural gas and the fixed from the Government 4 per cent profit rate. The company will bring a tender in the Council of Ministers for a change of the fixed profit.
Source: 24 chasa (09.06.1997)

The General Meeting of the shareholders of "Agrobiochim" JSC voted a new company's statues. Mrs. Galinka Filipova, Mr. Simo Michailov a Ministry of Trade and Tourism representative, Mrs. Anna Sabeva - Executive Director of First East International Bank JSC -, Mr. Stefan Spiridonov a company's representative, and Mrs. Vessela Kaleva a Ministry of Finance representative were elected members of the new Board of Directors.
Source: Pari (21.07.1997)

The Council of Ministers ordered to the representatives of the state-owned National Gas Supplier "Bulgargas" JSC to propose to the remaining Bulgarian shareholders - Chimimport JSC, Multigroup JSC, First Private Bank JSC and Overgas JSC - to transfer their shares to Bulgargas at the forthcoming General Meeting of Bulgarian-Russian "Topenergy" JSC. If the companies refused to transfer their shares to Bulgargas, It will convened a new General Meeting for ceasing the activity of "Topenergy" JSC. The next step will be an establishment of new Bulgarian-Russian join-stock company for fuel and power supply.
Source: Pari (25.07.1997)

The Council of Ministers dismissed the Chairman of the Power Committee Mr. Georgi Stoilov. Mr. Ilian Shilyashki is appointed in his place. The Power Committee is authorized with the Government's order to control directly the National Electricity Company and the National Gas Supplier "Bulgargas".
Source: Kontinent (25.07.1997)

In late August or early September 1997 will start a meeting between representatives of Bulgargas and Gasprom on the quantities of gas supplies to Bulgaria, reported Deputy Prime Minister Mr. Evgeni Bakurdzhiev.
Source: Pari (05.08.1997)

"Bulgargas" SPJSC has transited the first consignments of natural gas for Mazedonia. The total quantity of gas to transit through Bulgaria is 30 million cubic metres.
Source: Democracy (03.09.1997)

"Chimimport" JSC has agreed to sell its shares in "Topenergy" JSC to the state-owned enterprise "Bulgargas" JSC, said the Vice-Premier Mr. Evgeni Bakurdzhiev. According to the Deputy Director of "Chimimport" JSC, the prices of the shares must be fixed.
Source: Kontinent (12.09.1997)

According the Vice-president of "Gasprom" the decrease of the price of Russian natural gas which has imported in Bulgaria is impossible. Russian gas company had agreed the share of the state-owned "Bulgargas" in Bulgarian-Russian company "Topenergy" to be increased up to 50 per cent.
Source: Pari (29.09.1997)

The faience enterprise "Han Omurtag" JSC had received after its privatization the amount of USD 100,000 from the follow privatization funds: "Industrial PF" JSC, "Semeen PF" JSC and UBPF "Doverie" JSC. It was reported by the company's Executive Director. The enterprise is paying up debts to United Bulgarian Bank JSC in the amount of USD 250,000 as well as debts to "Bulgargas" in the amount of BGL 326 million at the moment.
Source: Pari (02.10.1997)

A revision of the state-owned company "Bulgargas" JSC found damages in the amount of BGL 536 million in the period December 1995 - February 1996. The damages are a result of barter deals with metals. The Executive Directors Mr. Vasil Philipov and Mr. Petar Subev are responsible for the damages.
Source: Trud (20.10.1997)

"Kremikovtzi" JSC and "Bulgargas" JSC signed an agreement protocol that determines a scheme for payment of the debts of the metallurgic works to "Bulgargas" JSC. The contract obliges "Bulgargas" JSC to decrease the gas-supply if "Kremikovtzi" JSC does not observe the payment scheme.
Source: Pari (22.10.1997)

"Bulbank" JSC, "First Private Bank" JSC and "Chimimport" JSC will sell their shares in "Topenergy" JSC to "Bulgargas" SPJSC.The two banks own 3.2 per cent of the shares each, and "Chimimport" JSC owns 2 per cent of the shares of the Bulgarian-Russian company. The shares will be sold at their face value - BGL 120,000 per 1 per cent of the capital. "Bulgargas" JSC will negotiate also with "Overgas" and "Multigroup" for purchase of their shares - 8.25 per cent of the capital of "Topenergy".
Source: Trud (28.10.1997)

"Montanagas" JSC purchased the municipal company "Toplofikazia", was reported from Montana Municipality. Shareholders in "Montanagas" are "Overgas" JSC - 34 per cent of the shares, and "Bulgargas" JSC - 30 per cent of the shares. The new onwer of "Toplofikazia" will invest DEM 400,000 for reconstruction of gas installations. Another DEM 450,000 will be invested in the gas-main network.
Source: Kontinent (30.10.1997)

"Bulgargas" JSC bought the shares of "Chimimport" JSC, "Bulbank" JSC and "First Private Bank" JSC in "Topenergy", said the Executive Director of "Bulgargas" JSC, Mr. Vasil Philipov. The total debts of consumers to "Bulgargas" JSC are in the amount of BGL 300 billion and the company owes Bulgarian state BGL 80 billion. Among the major debtors are "Kremikovtzi" JSC, "Neftochim" JSC, "Belopal" JSC and "Rubin" JSC (Pleven).
Source: Kontinent (04.11.1997)

"Bulgargas" SPJSC stopped the gas supply to the Bourgas-based metallurgic company "Promet" JSC, as a result of its debts. For the last 4 months "Promet" JSC has debts in the amount of BGL 2 billion. The workers in the enterprise will go on a strike in order to be dismissed the Executive Director, Mr. Lyubomir Lazarov.
Source: Trud (05.11.1997)

The General Meeting of "Multigroup - Bulgaria" JSC decided not to accept the suggestion of "Bulgargas" JSC and not to sell its shares in "Topenergy" JSC at their face value.
Source: Pari (14.11.1997)

At the General Meeting of "Topenergy" JSC was taken a decision for amendments at the Supervisory Board of the company. In the places of Mr. Roumen Ovcharov and Mr. Krasimir Nikolov were elected Mr. Antoan Nikolov and Mr. Roumen Petrov. "Multigroup Bulgaria" JSC decided to sell its shares in "Topenergy" JSC to "Bulgargas" JSC.
Source: 24 chasa (17.11.1997)

"Bulgargas" JSC had claimed in Bourgas District Court to promulgate "Neftochim" JSC insolvent because of the refinery’s debt in the amount of BGL 39.5 billion. According to the Minister of Industry the claim is groundless, because there is an open procedure for privatization of "Neftochim" JSC. Before the opening of the privatization procedure It was announced a 6-months term for bringing of suits against the refinery by its creditors.
Source: Other (25.11.1997)

There is already an agreement between "Kremikovtzi" JSC and "Bulgargas" JSC for periodical payment of the debts of the metallurgic works. Till the present moment "Kremikovtzi" owes "Bulgargas" over BGL 10 billion for gas supplies.
Source: National radio (27.11.1997)

Till November 31 the credits granted by "Bulgargas" JSC were in the amount of BGL 350 billion, said Mr. Ivan Shilyashki, Chairman of the Enregetics Committee. Among the major debtors of the company are: "Neftochim" JSC, "Kremikovtzi" JSC, "Neochim" JSC, "Agrobiochim" JSC, "Agropolichim" JSC, "Alumina" JSC, "Stomana" JSC, "Belopal" JSC. The company has signed contracts for payment of the debts with some of the debtors.
Source: Kontinent (02.12.1997)

Bulgargas continues the negotiations with the companies debtors and the specification of the plans most probably will end in the beginning of the next year, announced the Deputy Director of the gas company Mr. Metodi Vachev. Over the last week the company managed to deal the alternatives for rescheduled payment with 5 of its biggest debtors - Neftochim, Kremikovtzi, Plevenski tziment, Belopal - Beloslav and Diamant - Razgrad.
Source: Capital (06.12.1997)

At the General Meeting of "Agropolichim" SPJSC (Devnya) was taken a decision for a transformation of the company into a JSC. A decision was taken for a one-tier management system. Chairman of the Board of Directors is Mrs. Snezhana Tzvetanova. Members of the Board of Directors are Mr. Ivan Vulchev, Mr. Ivan Dyakov and Mr. Petar Ovcharov. The capital of "Agropolichim" is in the amount of BGL 2,736,635,000. According to the financial report, the debts of the company for 1996 amounted to BGL 12 billion. BGL 7 billion of it are to "Bulgargas" JSC.
Source: Pari (08.12.1997)

"Bulgargas" JSC decided to drop out of "Topenergy" JSC. The reason is that "Multigroup" JSC and "Overgas" JSC have not filed offers for sale of their shares to "Bulgargas" JSC.
Source: Trud (17.12.1997)

"Bulgargas" JSC will drop out of "Topenergy" JSC and will offer its shares for sale, said the Chairman of the Committee for Energetics, Mr. Ivan Shilyashki.
Source: Pari (22.12.1997)