EurOil - Europe Oil & Gas
Ruble slumps amid reports Shell to get over $1bn for Sakhalin LNG stake
Reports that Shell is on track to convert and repatriate more than $1bn in ruble earnings from the sale of its stake in the Sakhalin LNG project has pushed the Russian currency to its lowest level in a year.
Global gas flaring drops 3% in 2022
The global oil and gas industry managed to reduce gas flaring by 3% last year to 139 bcm, from 144 bcm in the previous year, the World Bank reported on March 29 in its new Global Gas Flaring Report (GGFR), despite oil output rising by 5% to 80mn bpd.
Hungary seeks out Azeri gas via Southeast Europe
Hungary is teaming up with Bulgaria, Romania, Greece and Turkey to look at options for securing natural gas from Azerbaijan via Southeast Europe, Foreign Affairs and Trade Minister Peter Szijjarto has said.
MOL board proposes record dividend to shareholders
EC welcomes proposals to block Russian LNG imports
Finland receives first LNG cargo at new terminal
The cargo arrived on board the Vivit Americas LNG tanker from the US. It was bought by Estonia’s Elenger and sold by commodity trader Vitol, which procured it from the Venture Global-operated Calcasieu Pass terminal in Louisiana.
Turkey to bring Black Sea Sakarya gas ashore in coming weeks
Turkish Energy Minister Fatih Donmez said natural gas from the Black Sea offshore Sakarya gas field would soon be landed in Turkey and utilised by 21 April.
OPEC+ announces surprise output cut
OPEC and several of its partners in the OPEC+ group made a surprise announcement over the weekend, declaring that they would make a voluntary oil production cut of 1.15mn barrels per day, which will run until the end of the year.
Estonian Elenger to enter Latvian gas supply market
Hungary raises gas security reserves to avoid €1.8bn loss
Hungary booked the contract at peak prices in August, which would mean the state-owned Hungarian Hydrocarbon Stockholding Association would incur a €1.8bn loss unless the gas was taken into reserves.
Hungary opposes EU’s 15% gas reduction proposal
Lithuania welcomes limits on Russian gas
Serbia to increase electricity and gas prices on May 1
KazTransOil transports 10,000 tonnes of crude across Caspian Sea for BTC pipeline transit
EU countries agree to seek legal option to curb imports of Russian LNG
European Union countries have agreed to explore a legal avenue to prevent Russian companies from sending LNG to member states.
UK North Sea industry doubles down on criticism of windfall tax
The windfall tax imposed on the UK North Sea oil and gas industry last year will result in 500mn boe being left in the ground over the next decade that would otherwise have been developed, equal to one year of output in the basin.
EC rules gas storage regulation not to blame for 2022 price spikes
The European Commission has ruled out that its gas storage regulations may have contributed to the all-time spike in gas prices in August last year, concluding that there is no conclusive evidence that this was the case.
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