"Bulgargas" SPJSC stopped the gas supplies to its debtors. Among them are "Lovechgas" JSC, "Yambolgas" JSC, "Hebrosgas" JSC and "Gassupply" JSC (Purvomay). The total debts to "Bulgargas" SPJSC are in the amount of BGL 9 billion.
Source: Standart (05.01.1998)

The natural gas stored in Chiren gas-store has increased by 14.5 per cent in comparison with preceding year and already exceeds 1 billion cubic metres, said the Executive Director of "Bulgargas" SPJSC, Mr. Lyubomir Dimitrov.
Source: Democracy (05.01.1998)

"Bulgargas" SPJSC refused that its debts to "Topenergy" JSC get transferred to "Credit Bdnk" JSC. Till December 22nd 1997 the company's debts were in the amount of USD 28,5 million.
Source: Kontinent (05.01.1998)

Over 1000 workers locked the entrance of glass-producing plant "Belopal" JSC (Beloslav) to stop the representatives of "Bulgargas" SPJSC (Sofia) from stopping the gas supply. The privatized plant has a debt to "Bulgargas" in the amount of BGL 2,5 billion but according to the state-owned company, this debt amounts to BGL 4 billion. If the gas supply is stopped this will lead to non-execution of contracts with clients from Italy, Russia, Canada and Germany.
Source: Trud (16.01.1998)

"Bulgargas" JSC demanded before court for a proclamation of "Neochim" JSC insovent because of its debts in the amount of BGL 13,8 billion. At the present moment there is a procedure opened for cash privatization of "Neochim" JSC. Privatization consultant is the American company "Arthur Anderssen".
Source: 24 chasa (23.01.1998)

On September 8th 1997 was signed a contract for gas supply by "Bulgargas" JSC, "Hardland Investment" and "Chimko". According to the Executive Director of "Bulgargas" JSC, Mr. Vassil Phillipov, on February 27th 1997 was signed the first contract by "Bulgargas" JSC, "Hardland Investment", "Neftochim" JSC and "Agrobiochim" JSC. Other contracts have been signed after that because of change in the gas prices.
Source: Kontinent (27.01.1998)

The state-owned gas company "Bulgargas" JSC (Sofia) will not be privatized this year. It is not included in the approved by the Parliament privatization programme for 1998, the Deputy-Premier Mr. Bakardzhiev said.
Source: Pari (23.02.1998)

A new Board of Directors was appointed in the state-owned gas company "Bulgargas" JSC. The Deputy Chairman of Energetics Committee Mr. Kiril Gegov is the new Deputy Executive Director. The other members of the Board are Mr. Antoan Nikolov, Mr. Hristo Kazandzhiev, the company's Chief Lawyer Mr. Iliya Ivanov as well as the current Executive Director Mr. Vassil Philipov.
Source: Trud (26.02.1998)

All Bulgarian shareholders of "Topenergy" JSC - Bulbank JSC, "Bulgargas" JSC, "Overgas" JSC, "Multigroup" JSC and First Private Bank JSC gave their temporary certificates for ownership on their shares to the Board of Directors of "Topenergy" JSC. The Board of Directors will transfer these shares of "Gasprom". It is expected that the former shareholders' representatives will drop out of the company's management.
Source: Democracy (03.04.1998)

The glass-works "Crystal" SPJSC (Pernik) owes "Bulgargas" JSC over BGL 7 billion. That's the reason why the gas supplier claims for the company to be proclaimed insolvent. On April 22, 1998 Pernik Court will pronounce on this claim of "Bulgargas" JSC. On April 15 in the Ministry of Industry was held a meeting between the Deputy Minister of Industry Mr. Stefan Stavrev and the Director of "Crystal" SPJSC Mr. Krum Bozhkov. At the meeting was suggested a sale of some of the assets of the company for payment of its debts. A German investor has shown interest in the glass-works, was reported by the Ministry of Industry.
Source: Pari (16.04.1998)

The General Meeting of "Topenergy" JSC approved the company’s capital restructuring into 100 per cent ownership of Russian "Gasprom". The Deputy-Executive Director of "Gazprom" Mr. Bogdan Bozdzulyak was elected Chairman of the Board of Directors of "Topenergy" JSC. Mr. Sergei Pashin was elected company’s Executive Director. The other members of the Board are: Mr. Yuri Vyahirev, Mrs. Elena Karpel, Mrs. Mira Rosenova, Mr. Yuri Zaitzev and Mr. Boris Posyagin - all representatives of "Gasprom". The new Board of Directors will decide the price on which "Topenergy" will sell to Bulgargas the ground under the transit gas network. This questions will be discuss at the next company’s General Meeting which will be held on June 19, 1998 in Moscow.
Source: Pari (08.05.1998)

On May 13 in Pernik District Court started the law suit for proclamation of glass works "Crystal" JSC (Pernik) insolvent. The claim has been brought in court by "Bulgargas" JSC - this is the only way for the company to receive BGL 5 billion rom unpaid gas supplies. A revision will be made in "Crystal" JSC to be calculated the value of production in the stores, stockpiles of materials, receivables and debts of the Pernik-based company.
Source: Pari (14.05.1998)

BGL 84,855 billion will invest "Bulgargas" JSC in 1998 in connection with government agreements, announced the Deputy Chairman of Energetics committee Mr. Kiril Gegov. The Council of Ministers approved the company's investment program.
Source: Democracy (26.05.1998)

The debts of "Chimko" JSC are in the amount of BGL 50 billion, said the Executive Director of the company Mr. Emanuil Rafailov. BGL 34 billion of them are debts to "Bulgargas" JSC, and the remaining part are debts to creditor banks. The enterprise ended first quarter of 1998 with a loss of BGL 11 billion and at the present moment its losses amount to BGL 17 billion.
Source: Democracy (27.05.1998)

Till the end of March the debts of "Agropolichim" JSC were in the amount of BGL 50 billion. BGL 26 billion of them are debts to "Bulgargas" JSC. Reason for the present state of the company according to its Executive Director Mr. Ivan Dyakov are the high prices of gas and the crisis in this branch.
Source: Democracy (05.06.1998)

"Bulgargas" JSC started to supply with gas "Leco - Co" JSC. The gas supply had been stopped because of debts of the enterprise to "Bulgargas" JSC - BGL 4 billion. The two companies have negotiated a prolonged term for payment of the debt.
Source: Democracy (05.06.1998)

"Bulgargas" JSC appealed before Pleven District Court for proclamation of "Plama" JSC (Pleven) insolvent. The refinery owes "Bulgargas" JSC about BGL 492 million for supplies of natural gas till May 31.
Source: Pari (10.06.1998)

Sofia Regional Court re-appointed the former Chief Accountant of "Bulgargas" JSC Mr. Kiril Ikonomov. The magistrates decided that Mr. Ikonomov had been illegally dismissed by the company's Executive Director Mr. Vassil Philipov.
Source: Trud (11.06.1998)

"Bulgargas" JSC confirmed its claim in Pernik District Court for promulgation "Cristal" JSC insolvency. The glass work's debts to "Bulgargas" JSC are in the amount of BGL 6.2 billion.
Source: Pari (18.06.1998)

Two production work-shops of the state-owned glass plant "Crystal" JSC (Pernik) were closed by order of the Ministry of Industry Mr. Alexander Bozhkov. The promulgated in insolvency plant started to discharge its employees. 335 workers from total 480 employees will be discharged. The plant stopped to work on April 27, 1998 because of unpaid debt to "Bulgargas" in the amount of BGL 5 billion.
Source: Pari (03.07.1998)

There is a possibility for "Bulgargas" SPJSC (Sofia) to become owner of the manure plants, which have debts to the company and for which there is no candidate-buyer, PA's Executive Director Mr. Zahari Zheliazkov reported. "Chimco" JSC (Vratza), "Agropolychim" JSC (Devnya), "Agrobiochim" JSC (Stara Zagora) and "Neochim" JSC (Dimitrovgrad) owe nearly BGL 200 billion for natural gas supplies.
Source: Trud (13.07.1998)

"Norsk Hydro", the buyer of "Agropolychim", and Privatization Agency agreed to finalize the deal for sale of the manure plant for USD 1. "Norsk Hydro" agreed to invest USD 34 million for modernization of the plant. This week "Norsk Hydro" will start negotiations with the enterprise's creditors and "Bulgargas" JSC. The buyer intends to sign a contract for long-term gas supplying of "Agropolychim" JSC.
Source: Capital (13.07.1998)

The state will not form a holding of the manure plants, the Deputy Minister of Industry Mr. Stefan Stavrev reported. The idea for such a holding was reported by the Executive Director of "Bulgargas" JSC Mr. Vasil Philipov. In this holding except for "Bulgargas" JSC had to be included "Chimco" JSC, "Agrobiochim" JSC, "Agropolychim" JSC and "Neochim" JSC.
Source: 24 chasa (15.07.1998)

BGL 5,338 billion is the total amount of the debts of glass-works "Crystal" SPJSC (Pernik), was reported after an assembly of the 13 creditors of the enterprise. Biggest debts "Crystal" SPJSC has to "Bulgargas" JSC - BGL 4,324 billion.
Source: Pari (16.07.1998)

Sofia City Court registered "Topenergy" JSC 100 per cent ownership of the shares of "Gasprom". In April 1998 the Bulgarian shareholders "Bulgargas" JSC, "Multigroup" JSC, "Overgas" JSC, First Private Bank JSC, Bulbank JSC and "Chimimport" JSC sold their shares in "Topenergy" to "Gasprom".
Source: Trud (20.07.1998)

The debts of "Agrobiochim" JSC till June 30 amounted to BGL 58 billion, Mr. Stefan Mihaylov, Executive Director, reported. The chemical enterprise is the major debtor of "Bulgargas" JSC - BGL 20 billion and its debts to NEC are over BGL 7 billion.
Source: Democracy (22.07.1998)

The Minister of Finance Mr. Muravey Radev ordered a complete financial revision in "Bulgargas" SPJSC, the Executive Director Mr. Kiril Gegov stated. In September the government will discuss a project for differentiated prices of the natural gas. "Bulgargas" SPJSC will not be privatized in the next 2-3 years. The company's profit for 1998 is in the amount of BGL 15 billion and its receivables amount to BGL 354 billion.
Source: Standart (23.07.1998)

Inter-institutional group adopted a project for stabilization of the manure plants in Bulgaria. The measures are connected with a change in the prices of natural gas for the producers of manure as well as amendments in the contracts signed with "Bulgargas" JSC.
Source: Democracy (14.08.1998)

The debts of the chemical plant "Chimko" JSC (Vratza) to "Bulgargas" in the amount of BGL 38.2 billion are extended for the long-term period. The other plant’s debts are to National Electric Company - BGL 500 million and to the state budget - BGL 300 million.
Source: Pari (26.08.1998)

"Bulgargas" JSC, Energy Committee and "Shell International Gas Limited" negotiated the start of research operations for construction of gas-main from Turkmenistan through Turkey and Bulgaria to Europe. The research of the gas-main in Bulgaria will be totally financed by "Shell" and will finish after a year.
Source: 24 chasa (09.09.1998)

"Stomana" JSC (Pernik) will stop working in 10 days because of its big debts, announced Mr. Dimitar Dimanov. The company owes "Bulgargas" JSC BGL 20 billion and NEC - BGL 20 billion. Its debts to banks amount to USD 34 million and debts to suppliers are in the amount of BGL 7-10 billion.
Source: Trud (11.09.1998)

"Neftochim" JSC is in 18 place of the 100 biggest European companies. The classification was made by audit company "Deloitte & Touche. NEC is in the 42nd place and "Bulgargas" JSC - in the 62nd place.
Source: Trud (15.09.1998)

The former Executive Director of "Bulgargas" JSC Mr. Vassil Philipov is accused for the non-profitable deal with the off-shore company "Haarland Investment". The deal included import of natural gas against export of nitrogen fertilizers. This was reported by the Director of the Department "Investigating Supervision" in Chief Prosecutor’s Office Mr. Amgel Ganev.
Source: Kontinent (25.09.1998)

Two offers were submitted for purchasing of 77 per cent of the shares of the metallurgical plant "Promet-Debelt" JSC. The applicants are "Neva Holding" JSC (Plovdiv) and Czech "Expandia" JSC. The major requirement to the buyers is to undertake the total plant's debts in the amount of BGL 16 billion. The company owes BGL 13 million to "Industrial Bank" JSC and BGL 3 million to "National Electrical Company", "Water-Supply Company" and "Bulgargas". "Neva Holding" JSC is Bulgarian-Ukrainian company, that imports nuclear fuel to "Nuclear Power-Station" (Koslodui).
Source: Pari (26.09.1998)

On October 12 "Chimko" JSC will start working again after a 100-day cease because of unfavourable market conditions and debts to "Bulgargas" JSC.
Source: Pari (06.10.1998)

"Bulgargas" SPJSC will spend BGL 10 billion on construction of gas mains from Polski Senovetz to Veliko Turnovo. BGL 5 billion must be spent by the end of 1998.
Source: 24 chasa (15.10.1998)

Till September 30 "Bulgargas" JSC has uncollected receivables of BGL 356 billion, reported the company's Executive Director Mr. Kiril Gegov. More than BGL 50 billion are debts of state-owned companies. The company has 210 clients, of which 25 hold 99 per cent of the debts.
Source: Pari (22.10.1998)

"Bulgargas" JSC will invest the amount of USD 350 million for construction of new gas-mains in Bulgaria, the company's Executive Director Mr. Iliya Ivanov reported. "Bulgargas" JSC has the amount of USD 28 million at the moment. The company has signed contracts for an extention of the payments to 20 of its bigger debtors.
Source: Kontinent (23.10.1998)

"Bulgargas" JSC transferred BGL 260 million to the municipalities, on the territory of which are to be found the company's units. This will benefit the economic state of municipalities Polski Trumbesh, Vulchi Dol, Loznitza, Straldzha, Ihtiman, Petrich, Botevgrad.
Source: Democracy (26.10.1998)

"Bulgargas" JSC reported a profit of BGL 44.8 billion for the nine months of 1998, stated the company's Executive Director Mr. Kiril Gegov. At the present moment the company has no debts to suppliers, and in the last two months has invested BGL 7 billion in and investment programme. At the present moment "Bulgargas" JSC disposes of USD 27-USD 28 million. "Bulgargas" JSC owes the state budget BGL 322.862 billion.
Source: Capital (26.10.1998)

The construction of gas mains to Turkey is already completed. It will be put into operation by the 6th of November, 1998. The project amounted to USD 2.5 million.
Source: Trud (03.11.1998)

The debts of "Promet" SPLtd. should be remitted, was insisted by the privatization intermediary "Atkins". Otherwise the company must be sold for USD 1. The company owes NEC, "Bulgargas" JSC and "Economic Bank" JSC nearly BGL 17 billion. The term for submitting offers for the privatization of "Promet" JSC expires on November 19, 1998.
Source: Pari (17.11.1998)

MPs from Energetics Committee demanded on remission of BGL 38 billion of the debts of "Toplofikatzia" SPJSC to "Bulgargas" JSC.
Source: Pari (19.11.1998)

By the end of 1999 "Petreko" will start exploration of a gas field in the vicinity of Galata cape, reported the company's Director Mr. David Archer. Thus will be supplied with gas "Devnya Tziment" JSC and "Agropolychim" JSC for the next 5 years.
Source: Democracy (20.11.1998)

The Commission for Protection of Competition did not take into consideration the claims of 6 gas companies against "Bulgargas" JSC for abuse of its monopoly status.
Source: Kontinent (26.11.1998)

From the next year four fertilizer plants will pay their debts to the state-owned "Bulgargas" JSC for three years without a grace period and in interest of 43 per cent. The payment will be in the price of the natural gas of BGL 135,738 which is 5 per cent less than the current price. This is one of the opportunities for the payment of debts of the following plants: "Chimko" JSC, "Agrobiochim" JSC, "Neochim" JSC and "Agropolichim" JSC. The other opportunity stipulates a remission of all interest and the half of the capitals in an extension of the debts for the same period.
Source: BTA (27.11.1998)

The price of natural gas for domestic consumers will drop from January 1, 1999 if the suggestion of Energetics Committee is adopted, reported the Chief Executive Director of "Bulgargas" JSC Mr. Kiril Gegov. Reason for this are decreased duties and VAT as well as the lower price at which Bulgaria will buy fuel next year.
Source: Pari (17.12.1998)