EurOil - Europe Oil & Gas

BP books $900mn in North Sea impairments

BP booked an impairment charge of around $900mn on its North Sea business last year.

Cyprus FSRU project stuck in limbo as government and contractor head to arbitration

The future of Cyprus’ energy transition from heavy fuel oil to natural gas for energy generation hangs in the balance over the outcome of a meeting between Cypriot government representatives and executives from a Chinese-led coalition.

Gazprom seeks $934mn in damages from Polish companies

Russia’s Gazprom is looking to recover $934mn in damages from Polish companies Europol Gaz and Orlen, as well as consulting firm Ernst and Young, at an arbitration court in St Petersburg.

Germany extends trusteeship over Rosneft assets

The German ministry has extended its trusteeship over the assets in the country belonging to Rosneft for a third time, giving the Russian state oil producer more time to seek a sale.

Kazakhstan to increase oil exports to Germany

Kazakhstan can raise crude oil supplies to refineries in Germany to 2mn tonnes per year in 2024.

Slovak gas reserves are 70% full

KazTransOil ships 100,000 tonnes of oil to Germany

EurOil: UK extends oil and gas windfall tax by a year

Turkey-Somalia energy pact strengthens bilateral ties amid regional tensions

Turkey and Somalia inked an energy exploration and drilling pact on March 7, bolstering their ties following a recent defence agreement. The deal aims to tap into Somalia's onshore and offshore hydrocarbon reserves estimated to reach 30bn barrels.

Czech Net4Gas faces a fine of €113mn in Russia

INA and Vermilion partner to explore oil and gas deposits

INA and Vermilion Zagreb Exploration have formed a partnership in the exploration area SAVA-07 (SA-07) to find new oil and gas deposits in Sisak-Moslavina County.

Somalia agrees energy deal with Turkey that permits Turkish drilling in exclusive economic zone

Netherlands blocks gas drilling in Wadden Sea

The Netherlands’ government said on March 5 it would not allow companies to drill for gas in the Dutch section of the protected Wadden Sea, thwarting exploration plans by Shell and ExxonMobil.

EU Commission agrees that German gas levy likely violates bloc rules

The European Commission agreed at an energy ministers’ meeting in Brussels on March 4 that Germany’s levy on natural gas exiting its territory probably violates EU law.

UK extends oil and gas windfall tax by a year

The UK government has announced it will extend the windfall tax imposed on oil and gas profits by another year, much to the chagrin of North Sea producers.