EurOil - Europe Oil & Gas

Data shows oil deliveries from Russia to Turkey hit record high in 2024

Oil deliveries from Russia to Turkey hit a record high in 2024, registering at 323,000 barrels per day (bpd), marking a 36% gain versus the previous record of 254,000 bpd set in 2022, according to data from analytics company Kpler.

Var Energi secures OneSubsea solutions to fast-track projects

Norwegian oil and gas company Vår Energi has signed a letter of intent with OneSubsea for the delivery of subsea production systems.

Shell restarts UK's Penguin field

Shell has restarted production at the Penguins field in the UK North Sea, deploying a modern floating production, storage and offloading vessel to extend the field’s operational life by up to 20 years.

Poland's Orlen’s refining margin dips as Brent climbs

Orlen’s model refining margin slipped to $7.4 per barrel in January, down from $7.8 in December, the company said on 4 January.

Serbia requests delay of sanctions on oil company NIS

Serbia has formally requested the US to delay sanctions on its Russian-owned oil company, Naftna Industrija Srbije, for a minimum of 90 days, citing concerns over the company’s critical role in regional energy stability.

UK's Europa promises "active year" for projects as it pursues shareholder value

Europa Oil & Gas expects 2025 to “undoubtedly be an active year” as it advances multiple projects with potential to generate significant shareholder value.

NIS considers exit from Bulgaria and Romania amid US sanctions

Serbia’s oil company NIS, controlled by Russia’s Gazprom, is considering withdrawing from its operations in Bulgaria and Romania due to significant challenges in these markets.

Europe's gas crisis is back with a vengeance

A year ago, many market watchers were warning that it was premature to say Europe’s gas crisis was over. Now it seems it is back with a vengeance.

Horizont kicks off prep work at Polish gas project

The company is focused on developing already-discovered gas reserves in Europe.

EU, IEA launch new forum for energy transition framework ahead of COP30 in Brazil, but money still talks loudest

Last month the European Union and the International Energy Agency (IEA) launched the Global Energy Transition Forum (GETF) with the intention of sustaining the momentum towards energy transition targets.

Russian gas flow to EU via TurkStream up 27% in January

Exports of Russian natural gas to the EU via the TurkStream pipeline rose by 27% year on year in January, reaching 1.56 bcm.

Czech state oil transporter Mero and Orlen Unipetrol conclude new contract

The Czech state oil transporter Mero and Polish Orlen’s local branch, Unipetrol, concluded a new contract for the transportation and storage of crude oil.

Will the Nord Steam gas pipelines be turned back on soon?

The idea of restarting Russian gas deliveries to Europe via the damaged Nord Stream 1 & 2 pipelines has been introduced as a possible bargaining chip in the mooted Russo-Ukraine ceasefire talks. If it happens it would solve many of Europe's problems.

Court rejects Greenpeace’s objection to environmental permit for Romania’s Neptun Deep offshore gas project

The Bucharest Court of Appeal on January 29 rejected the request filed by Greenpeace on the environmental permit for the Neptun Deep offshore gas project developed by state-owned Romgaz and OMV Petrom.

Seven bid for Lukoil’s Bulgarian refinery, PM Zhelyazkov says

Lukoil has been actively seeking to sell its Bulgarian assets since December 2023, when Sofia banned imports of Russian crude oil.

Kazakhstan plans to export 250,000 tonnes of oil from Kashagan via BTC in 2025

Kazakhstan’s state-owned energy company, KazMunayGaz, plans to export approximately 250,000 tonnes of crude oil from the giant Kashagan oilfield via the Baku-Tbilisi-Ceyhan (BTC) pipeline in 2025, the company announced on January 29.

OPEC+ to discuss Trump proposal on US oil output expansion

The OPEC+ alliance of major oil producers is set to deliberate on US President Donald Trump’s recent proposal to expand American oil output, Kazakh Energy Minister Almasadam Satkaliyev told a briefing on January 29.

Janaf seeks US approval to fulfill contract with sanctioned NIS

Croatian oil pipeline operator Janaf has formally requested approval from the US Office of Foreign Assets Control (OFAC) to continue fulfilling its existing contract with the Oil Industry of Serbia (NIS), which is subject to new US sanctions.

Hungary's crude production at 20-year high in 2024

Magnitsky-sanctioned Bulgarian MP Peevski pushes for state control of Lukoil’s local assets

Bulgaria’s Magnitsky-sanctioned Delyan Peevski, leader of DPS – New Beginning, has called for acquisition of Lukoil’s local assets – the Lukoil Neftochim Burgas refinery and fuel stations – by the state.

Germany’s Russian LNG imports surge over 500% in 2024, via other countries

Germany talks loudly about ending Europe’s imports of Russian gas, but as a result of alternative sources of energy, it has seen imports of Russian LNG soar by 500% in 2024 y/y, worth a total of €7.32bn, delivered via other European countries.

Orlen raises $1.25bn through corporate bonds

Poland’s largest energy company, Warsaw-listed Orlen, will issue series C corporate bonds worth $1.25bn.

UK's Harbour reports production, revenue gains in "transformational year"

"With our high-quality portfolio, financial strength and strong team, we are well-positioned for continued execution of our strategy," CEO Linda Cook said.

Eni's Enilive launches SAF plant in Sicily

Enilive, the mobility arm of Italy’s Eni, has commissioned its first sustainable aviation fuel production plant at the Gela biorefinery in Sicily.

ExxonMobil, QatarEnergy kick off exploration drilling off Cyprus

ExxonMobil and QatarEnergy have commenced exploratory drilling for natural gas at the Electra prospect west of Cyprus.