Economic Factors for the Development of the Bulgarian Oil and Gas Industry

Abstract

The Oil and Gas Industry is an important branch of the Bulgarian economy. The factors, driving the development of the sector and its companies, include the global market tendencies and demand, specific conditions for business initiatives and launching projects, etc. The aim of the paper is to show some indicators of Oil and Gas Industry of the Republic of Bulgaria and to draw some economic impacts on the improvement of performance and implementation of the sector’s long-term plans, contracts and relationships in development. The main problematic issues of the Bulgarian Oil and Gas industry refer to its dependence upon importers from other countries, the gap between the official expertise (communicated mainly through internet formal documents and official websites of the Bulgarian Oil and Gas companies) and the sector’s priority for the economy, etc. The factors of influence on Oil and Gas Industry of the Republic of Bulgaria could not be unambiguously specified, but they include the global market tendencies, competition in the sector, the launching projects according the Bulgarian government policy and priorities, the prerequisites for improvements in qualification of experts and companies, the implementation of new technological solutions, etc.