EurOil - Europe Oil & Gas
Part of Russian natural gas transit flows to Europe via Ukraine were halted due to the war on May 11, sending European gas prices spiking.
Bulgaria want to delay implementation of the ban on Russian oil imports planned by the EU so that its sole refinery, Lukoil Bulgaria, gets time to adjust to process other type of oil.
The €500mn pipeline will enable the Baltic states and Finland to receive pipeline gas from Western Europe for the first time.
The fundamental problem remains that the government has done little to lessen its dependence on Russian energy sources over the past 12 years; if anything, it has deepened its dependence.
The case of Spanish-Moroccan-Algerian tensions over the GME pipeline demonstrates that if the EU wants Africa’s gas, it may also have to confront regional tensions and disputes.
Swiss-based commodity trader Gunvor is to buy 2mn tonnes per year of LNG from Energy Transfer's proposed Lake Charles LNG export terminal.
US LNG developer NextDecade reached an agreement this week to supply LNG to French utility Engie. The deal signals a change in course for Engie, which had previously backed out of talks over a supply deal with NextDecade.
The EU is softening its stance on long-term LNG supply deals as it urgently seeks alternatives to Russian gas, having previously been more resistant to ongoing commitments to buy fossil fuels.
ExxonMobil has agreed to sell its Romanian upstream business to Romgaz for more than $1bn.
Budapest still blocking EU consensus despite being offered extension until end of 2023.
Heavily-dependent states will be allowed to buy Russian oil exports until the end of 2023, while other states have to cease crude deliveries in six months.
France’s TotalEnergies has posted a profit for the first quarter of 2022, despite a $4.1bn impairment that was attributed to its business in Russia.
A Russian legislator has said that he expects Europe to continue buying crude oil from Russia even if it imposes an embargo on imports.