EurOil - Europe Oil & Gas

UK North Sea at centre of political battle

The UK’s North Sea oil and gas sector has become a flashpoint in political debates over energy security and climate transition, with Labour seeking to curb new licences and the Conservatives pushing for expanded extraction.

Shell strikes 10-year LNG deal with Hungarian utility

Shell has concluded a 10-year contract to supply Hungary’s state-owned utility MVM with around 200 mcm of natural gas annually, starting in January next year.

Norwegian Greens gain leverage on oil and gas policy after election result

Norway’s Green Party is pushing for a halt to new petroleum exploration and a full phase-out of oil and gas by 2040, but Prime Minister Jonas Gahr Støre has pledged that the country will remain a dependable supplier to Europe.

Hungarian foreign minister says Budapest has no other choice but to buy Russian oil

A tale of two majors

BP has been unable to sell its stake in Rosneft despite pledging to leave Russia in 2022, while ExxonMobil, forced out of Sakhalin-1 the same year, may now be invited back under new Kremlin rules.

OMV to cut 2,000 jobs globally, including 1,000 at OMV Petrom

Austrian energy group OMV plans to eliminate 2,000 positions from its global workforce of 23,000, with nearly half of the cuts affecting its Romanian subsidiary OMV Petrom, (BVB: SNP).

Putin aide Patrushev weighs in on Nord Stream blasts

He was renewing Moscow’s consistent criticism of Western investigations into the September 2022 blasts that damaged the Nord Stream 1 and 2 gas pipelines.

Italy seeks fuel supply guarantees from Azerbaijan amid refinery sale

Italy has asked Azerbaijan’s government to provide guarantees of continued fuel supplies in the event of a sale of Italiana Petroli (IP)’s refinery, Reuters reported on September 5, citing unnamed sources.

UK-Brazil team develops flexible subsea inspection robot

Engineers in the UK and Brazil have developed a tentacle-like underwater robot designed to transform how subsea pipelines and offshore structures are inspected, providing a safer and more precise alternative to rigid systems.