EurOil - Europe Oil & Gas

7 March 2023

German ban on fossil fuel boilers proves controversial

6 March 2023

A draft law in Germany that would ban the installation of new oil and gas heaters from 2024 for environmental purposes has sparked outrage.

PKN Orlen to seek compensation from Russia for lost oil supply

6 March 2023

Poland’s largest oil refiner PKN Orlen plans to seek compensation from Russia for cutting off its oil supply via the Druzhba pipeline in mid-February, its CEO Daniel Obajtek said on March 6.

Equinor bolsters North Sea position with Wellesley deal

6 March 2023

Norway’s state-owned energy giant Equinor has strengthened its north North Sea position by striking a deal to expand its stakes in five discoveries off the Norwegian coast, covering interests in the Troll, Fram and Kvitebjorn area.

Wood Mackenzie weighs up Russia-Ukraine war's impact on energy

5 March 2023

The Russia-Ukraine war means energy security will no longer be taken for granted, has shown that Europe can handle a future without Russian gas and demonstrated the resilience of oil and coal and the limitations of the power markets.

Global energy sector emissions reach new high in 2022

5 March 2023

Global energy-related CO2 emissions reached a new record in 2022 of 36.8bn tonnes, inching up 0.9% from the previous year’s level, the International Energy Agency reported last week.

German LNG infrastructure costs set to exceed budget

5 March 2023

The cost of infrastructure for planned floating LNG terminals in Germany is set to surpass expectations, the government said on March 3, warning taxpayers that stronger energy security would come at a cost.

Shell to reconsider plans to scale back oil output

5 March 2023

Shell will reconsider its current target of lowering oil production by the end of the decade, its CEO Wael Sawan said last week.

EU trade deficit with Russia at third of pre-war level

5 March 2023

The EU’s trade deficit with Russia slumped in December to a third of its pre-war level, reflecting the sharp decline in imports of coal, gas and oil, the bloc’s statistics agency Eurostat reported on March 3.

Equinor snaps up Suncor's UK business

5 March 2023

Norway’s Equinor has agreed to purchase the UK arm of Suncor Energy for $850mn, which will land it a 29.9% stake in one of the UK North Sea’s largest oilfields, Buzzard.

Trump accuses Biden administration of blowing up Nord Stream pipelines

5 March 2023

Former US President Donald Trump has said the Biden administration or Ukraine could have been responsible for blowing up the Nord Stream 1 and 2 pipelines in late September, while dismissing that Russia could be to blame.

Russia reportedly intends to mothball damaged Nord Stream pipelines

5 March 2023

Gazprom has previously said it would be possible to repair the ruptured lines, but the pipelines are unlikely to be needed, as the Russian government sees little prospect of ties with the West improving in the foreseeable future.

Russia's oil product exports slumped by 20% in February, but seaborne export volumes remain robust

3 March 2023

Russia's oil product exports have slumped by 20% in February, marking the lowest level since May 2022, according to tanker tracking data reported S&P on March 2 in a note. Shipborne exports of crude, however, have held up well and remain robust.