EurOil - Europe Oil & Gas
Kazakhstan to transport another 20,000 tonnes of crude to Germany in March via Russia’s Druzhba pipeline
BP launches hydrogen cluster in Valencia region
BP has launched the HyVal project at its Castellón refinery in Valencia, Spain. It is a public-private partnership led by BP that aims to build up to 2 GW of electrolysis capacity by 2030 for making green hydrogen at BP’s refinery.
Reganosa purchases 25% stake in El Musel LNG terminal in Gijon from Enagas
Spanish LNG terminal operator Reganosa revealed it has reached a deal with Enagas to acquire a 25% stake in the El Musel LNG terminal located in Gijon, north-west Spain.
Cyprus FSRU project makes late start
Contractors for a project designed to bring LNG to Cyprus through the installation of an FSRU at the industrial port of Vasilikos on the island’s southern coast have started construction on a jetty to which the FSRU will be moored.
Gas supply contract arbitration will hinge greatly on Nord Stream investigations
Whoever was responsible for the explosions that burst the Nord Stream 1 and 2 gas pipelines last September could be key to deciding on multi-billion dollar arbitration claims lodged by European gas buyers that subsequently lost their Russian supply.
Poland's Orlen to spend $26.5bn on green projects
Poland-based Orlen is to spend €25bn on green projects as part of its 2030 strategy. This would represent about 40% of its capital expenditure.
Russia’s 500,000 bpd production cut goes into effect as production and exports surge
Russia starts reducing its oil output by 500,000 barrels per day from March 1 in a one-month production cut that is intended to “stabilise the market,” according to Deputy Prime Minister Alexander Novak.
Profit of Romgaz shrinks in Q4 on tougher taxation
Essar unveils energy transition investment plans
India’s Essar Group has created a new division to focus on the energy transition, with projects in the UK set to play a leading role. The programme will entail a $2.4bn investment in the UK and a $1.2bn investment in India.
"Energy battle" between Europe and Russia not over yet: IEA head
The head of the International Energy Agency has warned that the “energy battle” is still not finished between Europe and Russia, despite the recent sharp decline in gas prices.
Turkey further cuts gas prices for industry, power plants
Germany eyes fourth highest global LNG import capacity by 2030
Eni CEO says Africa is a key source of gas supplies to replace Russia in Europe
Eni CEO Claudio Descalzi says Africa is a vital source of natural gas for Europe as the Continent attempts to reduce its dependence on supplies from Russia.
Russia seeks closer gas ties with Central Asia
EurOil: Bulgaria seeks regasified LNG via Turkey
The EU embargo on Russia’s oil products will drive down prices – but not yet
EU sanctions on Russia’s oil products went into effect on February 5 and will take several months to make themselves felt. The products market is very different to the crude oil market.
Lithuania’s Klaipedos Nafta cuts losses to €5.5mn in 2022
Shell enters Armenia
Poland’s PKN Orlen nearly quadruples profit in Q4
Urals oil price is increasingly meaningless, allowing Russian-owned refineries in Europe to build up slush funds
After the twin price cap sanctions were imposed on Russian oil exports, Ukraine’s supporters cheered as the price of the key Urals blend collapsed. The trouble is, Russian refineries in Europe make the price of Urals increasingly irrelevant.
Bulgaria seeks regasified LNG via Turkey
How big is Russia's "ghost fleet" of oil tankers?
How many ships are in Russia’s “ghost fleet” of tankers? No one has a clear idea: estimates run from 100 to 600 tankers depending on what you include in the fleet.
Orlen Lithuania ups Q4 revenues by 28%, profit soars 56%
Eni to expand upstream spending by third
Russia halts oil supply to Poland
Greece, Bulgaria revive crude pipeline known as ‘Bosphorus Bypass’
Engie enjoys windfall 2022 profits on back of high gas, power prices
Hungary to ease regulation to scale up domestic gas production
European gas prices slump to 18-month low
The front-month contract at Europe’s premier TTF gas hub dipped below €50 per MWh ($567 per 1,000 cubic metres) on February 21 for the first time this year, amid easing fears of shortages, warm weather, ample LNG and lower industrial demand.
Gas prices fall further on record 64% full European gas tanks
Gas reserves in Europe's underground storage facilities (UGS) have dropped to 69bn cubic metres and are 63.7% full as of February 22, Gas Infrastructure Europe (GIE) reports.
Follow us online