Standart News: US shale gas giant Chevron is leaving Bulgaria

U.S. oil company Chevron is withdrawing from Bulgaria, Capital Daily reports. Chevron has not been active in Bulgaria for several years. In 2011 the company received a permit to extract shale gas in northeastern Bulgaria, but then a moratorium was imposed on activities using fracking for gas extraction in Bulgaria.

"No self-respecting company can afford to lose money in the absence of perspective and the apparent lack of interest of a number of Bulgarian governments in the development of one of the few options for local oil and gas ... Unlike other companies, Chevron can not be "operated" by a Bulgarian or Balkan way, applying the methods that worked well elswhere by motivating political circles and civil servants" said in his blog energy expert and Bulgaria's former ambassador to Moscow Ilian Vassilev.

Despite the withdrawal from Bulgaria, Chevron will continue its projects in Romania and Poland. Chevron Romania received some concessions for the exploration and extraction of shale gas in the country. One is in the northeastern part and covers an area of ​​6350 square kilometers and the other in southeastern Romania, with an area of ​​2711 sq. km.
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