EurOil - Europe Oil & Gas

Turkey’s Russian crude imports drop fourfold, following spike in Russian LNG imports

Turkey’s imports of Russian crude oil reportedly contracted 4fold in February following the January 10 US-led tightening of sanctions on Moscow’s energy exports that hit energy companies and more than 180 "shadow fleet" tankers.

Europe sees further climb in gas prices in February, amid record storage withdrawals

European gas prices rose by 5% in February, reaching an average of $542 per 1,000 cubic metres, driven by record-high storage withdrawals and reduced wind power generation.

Serbia seeks new gas contract with Russia ahead of May deadline

Serbia is negotiating a new long-term gas contract with Russian energy giant Gazprom as it prepares for the expiration of its current three-year supply agreement in May 2025.

Romgaz reports 15% rise in net profit as solidarity contribution ends

Romanian natural gas producer Romgaz recorded a 15% y/y increase in net profit in 2024, reaching €640mn, as the temporary solidarity contribution on excess profits was no longer charged. However, gross profit declined by 29% y/y.

Ukraine’s DTEK expected to sign LNG import deal by April

Ukraine’s biggest private energy firm DTEK is holding negotiations with a handful of suppliers over a two-year LNG import contract.

US postpones sanctions on Serbia's NIS for 30 days

The US has granted a 30-day delay on sanctions targeting the Serbian oil industry, NIS, providing a temporary reprieve for the company, which is majority-owned by Russian energy giants Gazprom and Gazprom Neft.

ICC rules Gazprom must pay CZK1bn to Czech CEZ

North Macedonia to sign deal for construction of gas interconnector with Greece in March

North Macedonia’s Prime Minister, Hristijan Mickoski, announced that the country expects to sign the agreement to commence construction of the gas interconnector with Greece in March.

Gazprom restructures ownership of NIS as US sanctions loom

Gazprom Neft, the Russian oil giant, has transferred its 5.15% stake in NIS to its parent company Gazprom, in a bid to avoid US sanctions on Serbia's sole oil company.

Shipping companies fight against biofuel regulations

Offshore Energy reported this week that numerous shipping companies had called on the International Maritime Organization to remove “unsustainable” biofuels from its list of alternative fuel sources.