EurOil - Europe Oil & Gas
Serbian government sends letter to US asking to delay sanctions on NIS
The Serbian government has sent a letter to the US administration supporting a request by the Oil Industry of Serbia (NIS) for a delay in the implementation of US sanctions, which were imposed due to the company’s significant Russian ownership.
UK could produce half of oil and gas it needs by 2050 under right conditions: OEUK
The UK could supply half of its projected oil and gas demand by 2050 through domestic production if investment conditions improve.
Norwegian oil output falls 2.6% in February
Norwegian oil and condensate production dropped 2.6% month on month in February to 1.943mn barrels per day.
Serica, Dana weigh up options for underperforming Triton FPSO off UK
UK-based oil producer Serica Energy reported on March 19 that the Triton floating production storage and offloading unit is not expected to resume operations before May this year.
Equinor scales back climate ambitions
Norway’s Equinor has scaled back its energy transition ambitions as it faces mounting challenges in meeting renewable investment targets, blaming rising costs, supply chain issues and changing political priorities.
Energean calls off $945mn East Med sale to Carlyle
The transaction, announced in June 2023, was intended to support Carlyle’s launch of a new Mediterranean-focused oil and gas company.
TotalEnergies eyes Brazilian green hydrogen for European refineries
French energy major TotalEnergies is considering importing green hydrogen from northeastern Brazil to supply its European refineries, according to sources familiar with the matter.
Shell raises shareholder rewards, keeps focus on oil and gas
Shell announced on March 25 it would raise its shareholder distribution target and deepened cost-cutting ambitions.
OMV launches new chemical recycling facility in Austria
Austria’s OMV has commissioned a new chemical recycling facility at its Schwechat refinery, aimed at converting difficult-to-recycle plastics into circular feedstocks using its proprietary ReOil technology.
OPEC+ announces new cuts to balance out higher output
OPEC+ has unveiled a fresh strategy to enforce additional production cuts, aimed at counterbalancing an uptick in output among its member nations.
European gas prices ease on milder weather, US-Russia ceasefire talks
European wholesale gas prices declined on the morning of March 24 amid mild weather forecasts and as US and Russian officials began talks in Saudi Arabia aimed at securing a broader ceasefire in Ukraine.
Turkey’s TPAO partners with US firms to boost oil and gas output
Turkey’s national oil company TPAO has formed a joint venture partnership with US independent oil and gas companies Continental Resources and TransAtlantic Petroleum with the intent to develop shale oil resources.
EU sanctions to hit Russian LNG exports to China
The EU’s upcoming ban on the transshipment of Russian LNG at EU ports is expected to disrupt winter deliveries from Russia’s Yamal LNG terminal to China and other Asian markets.
NYSE-listed Apollo to pay $1bn for 25% of BP unit that operates Azerbaijan to Turkey TANAP gas pipeline
BP and NYSE-listed alternative asset manager Apollo on March 21 announced that they have struck agreements for Apollo-managed funds to purchase a 25% non-controlling stake in BP Pipelines (TANAP).
A turbulent 2025 in store for European gas markets
This is going to be a turbulent year for European gas prices. If the war continues and the EU sticks to its “no more Russian energy” guns then prices could soar in a repeat of the 2022 energy crisis.
Germany seeks to sub-charter floating LNG terminals amid contract disputes
Germany’s economy ministry is gauging interest in its excess floating LNG terminals as it considers sub-chartering the ships as they sit idle following two contract cancellations.
Hungary receives two-month exemption for paying for Russian gas
The US government has extended Hungary’s exemption from sanctions when paying for Russian gas to Gazprombank until May, ensuring continued secure natural gas supply, Hungarian Foreign Minister Peter Szijjarto announced in Ankara.
Slovenian government proposes three new members for Energy Agency Council
The Slovenian government has put forward on March 20 three candidates for appointment to the Energy Agency Council, aiming to restore stability to the regulatory body.
US reportedly agrees sanctions waiver on Turkey gas payments to Russia
Turkey has reportedly successfully appealed to the US for an extension to a sanctions waiver that applies to gas payments made to Black Sea neighbour Russia.
Turkey’s energy minister holds out prospect of Turkish-Turkmen partnerships in developing Caspian Sea oil and gas fields
Turkey is aiming to establish partnerships with hydrocarbon-rich Turkmenistan for the development of Caspian Sea oil and natural gas fields, says Turkish Energy and Natural Resources Minister Alparslan Bayraktar.
Serbia requests another delay for US sanctions on NIS
Serbia has requested another extension for US sanctions on its oil company, NIS, as the deadline for the current deferment approaches.
MOL finds oil in southwest Hungary
New oil field discovered with a potential production capacity of 1,200 barrels per day.
Poland’s Orlen signs another contract to supply Ukraine with LNG
Poland’s state-run energy company Orlen has signed a second deal with Ukraine’s biggest state-owned energy firm Naftogaz to provide it with an additional 100mn cubic metres of LNG.
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