EurOil - Europe Oil & Gas

European Commission approves VTTI’s acquisition of Adriatic LNG terminal

Dutch headquartered energy storage group VTTI together with German asset manager IKAV have been granted authorisation by the European Commission to purchase Italy’s Adriatic LNG terminal.

Russian Lukoil to sell Bulgarian Burgas refinery to Qatari-British investors

Russia’s second-largest oil producer Lukoil is selling its majority stake in Bulgarian refinery Neftohim (Neftochim) Burgas to Qatari-British investors, the Financial Times report citing Lukoil’s letter to Russia's President Vladimir Putin.

Coterra and Vitol sign 11-year LNG supply deal

Houston-based Coterra Energy has signed a long-term LNG supply deal with global energy and commodities trader Vitol.

Turkey plans regional gas hub, Istanbul index in 2025

Turkey’s Energy and Mineral Resources Minister Alparslan Bayraktar told Turkish media last week that a natural gas trading hub could begin operating in Istanbul in 2025.

Energy industry must drive sustainable socio-economic growth: ADIPEC

The global energy industry must drive the next phase of sustainable socio-economic growth, UAE Industry Minister and CEO of the country’s national oil company ADNOC, Sultan Ahmed Al Jaber, said at the ADIPEC conference in Abu Dhabi on November 4.

OPEC output rises despite Iraqi cuts as unwinding is pushed back

has pushed back its planned easing of output cuts to the end of the year, just as production has risen despite Iraq’s compensatory efforts

Shifting to clean energy, Germany’s EWE divests Polish business to Eesti Gaas

German energy and telecommunications company EWE is about to sell its Polish operation EWE Polska to Estonia’s Eesti Gaas.

EurOil: Sverdrup oil output to drop from peak early next year

Global oil supply to see major glut next year: World Bank

Global commodity prices are on track to slump to a five-year low next year, with an oil glut emerging so large that it will largely negate the impact of the Israel-Palestine war escalating into a regional Middle Eastern conflict.

TotalEnergies' unreceived dividends from Russia to reach $1.5-2.0bn by year-end, says CEO

French oil major TotalEnergies’ dividends from its joint projects with Novatek that cannot be transferred out of Russia could reach between $1.5-2.0bn by the end of this year.

OMV Petrom’s shares gain 3.6% on better-than-expected Q3 results

The shares of OMV Petrom energy group (BVB: SNP) surged by nearly 3.6% after the company released Q3 results slightly above the market consensus on October 29.

Germany approves proposals for hydrogen pipeline system

Germany’s Federal Network Agency (Bundesnetzagentur) this week approved the hydrogen core pipeline network which was proposed by the country’s gas transmission system operators earlier this decade.