EurOil - Europe Oil & Gas
EU-US $750bn energy deal will undermine bloc's climate targets
The EU’s plan to invest approximately €700bn in oil, natural gas and nuclear imports from the US over the next three years has raised concerns that it could undermine the bloc’s climate targets for 2030.
Gazprom gas sales to Europe slump to 50-year low
Gazprom’s natural gas deliveries to Europe have plummeted to their lowest levels since the 1970s, further diminishing what was once one of the Kremlin’s biggest revenue streams.
Serica suffers sharp output decline amid Triton downtime
UK-based Serica Energy reported a sharp decline in first-half production on August 5, owing to prolonged downtime at the Triton FPSO vessel.
Petrofac secures extended creditor backing for restructuring plan
UK-based oil and gas engineering group Petrofac has secured an extension of creditor backing for its financial restructuring plan after a UK court setback threw its recovery process into uncertainty.
Austria's OMV reports "solid" sales in Q2
The company described the result as “solid,” stating it was able to weather weaker commodity prices and continued macroeconomic uncertainty thanks to its integrated energy model, which provided a buffer against volatility.
BP announces sweeping cost review
BP’s share price continues to lag peers, and questions linger over its ability to strike a balance between energy transition ambitions and investor demands for consistent returns.
Saudi Arabia's ADES plans SAR1.42bn acquisition of Norway's Shelf Drilling
A subsidiary of ADES Holding signed an agreement for a recommended offer to acquire Norway's Shelf Drilling in a deal valued at SAR1.42bn ($379mn).
Indian opposition blames government on Trump threats
Under President Donald Trump’s second term his administration has taken a much more hawkish stance that Indian purchases enable Russia to weather sanctions and indirectly fund its war effort
“Not for sale”: Russia blocks Serbia’s bid to buy sanctioned oil firm
Serbia is ready to buyout NIS to shield itself from US sanctions, but Moscow has shown no willingness to sell.
Azerbaijan’s Socar says it wants to expand, not sell, Aegean Sea container terminal in Turkey
The State Oil Company of the Azerbaijani Republic (Socar) is not mulling the sale of its Aegean Sea container terminal in Turkey, according to Turkish business daily Dunya.
Norway’s Equinor restarts Hammerfest after 3 months of maintenance
Norway’s state-owned energy firm Equinor has restarted its Hammerfest LNG facility after a three-month pause for maintenance work.
OPEC+ to raise oil production in September
Eight key OPEC+ countries have announced a production adjustment of 547,000 bpd for September
Turkish Petroleum to join hydrocarbon field development in Kazakhstan
Turkey’s state-owned oil and gas company, Turkish Petroleum, will participate in the development of hydrocarbon fields in Kazakhstan, Finance.kz has reported, citing Kazakh Energy Minister Almassadam Satkaliyev.
OMV Petrom H1 net profit drops 21% on weaker performance across all segments
Romanian energy company OMV Petrom (BVB: SNP) reported a 21% y/y fall in net profit to RON 2.1bn (€420mn) for the first half of 2025, citing lower results in all business segments.
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