EurOil - Europe Oil & Gas
Russia files WTO complaint against EU's carbon border adjustment mechanism
Russia argues the measure violates global trade rules and unfairly restricts access for non-EU producers.
European gas output dips to four-year low in Q1
European natural gas production, including output from Norway, the UK and Turkey, declined by 8% year on year to 47.7bn cubic metres in the first quarter of 2025.
US grants permanent exemptions for CPC and Tengizchevroil amid Russia sanctions
The US has issued permanent exemptions allowing transactions linked to Kazakhstan’s Caspian Pipeline Consortium (CPC) and Tengizchevroil (TCO), safeguarding key oil export routes from the reach of recent sanctions targeting Russia.
Turkey announces discovery of Black Sea natural gas reserve with economic value of $30bn
Turkey on May 17 said it has discovered a natural gas reserve in the Black Sea of 75bn cubic metres.
Serbia negotiates new long-term gas deal with Russia
Serbia has increased efforts to diversify its energy sources but remains heavily dependent on Russian gas.
Tensions in the Baltic Sea: Russia detains oil tanker that left Estonian port
Russian authorities detained a Greek-owned oil tanker, Green Admire, on May 18 after it departed from Estonia’s Port of Sillamae en route to Rotterdam, and was transiting Russia’s territorial waters along a previously agreed shipping corridor.
COMMENT: Europe must choose either to accept 15% of Russian gas supplies or zero
The European Commission on May 6 unveiled a brief roadmap outlining how it plans to achieve the EU objective of eliminating all remaining Russian energy imports by 2027.
Kazakhstan’s CPC crude oil exports forecast to rise in June despite OPEC+ overproduction concerns
Exports of CPC Blend crude oil via the Black Sea are reportedly expected to increase in June to between 1.6mn and 1.7mn barrels per day (bpd).
Serbia appoints chief Russophile to board of Srbijagas
Serbia has appointed Aleksandar Vulin, a prominent pro-Russian politician under US sanctions, as chairman of the supervisory board of state-run gas company Srbijagas.
MOL chief warns EU’s Russian energy exit could cost Hungary up to $600mn a year
Disconnecting from Russian oil would cost Hungary an additional $500-600mn annually, due to its heavy reliance on pipeline infrastructure and lack of access to seaborne crude, said Zsolt Hernadi, chairman and CEO of Hungarian energy giant MOL.
Follow us online