EurOil - Europe Oil & Gas

Portugal’s Galp doubles down on upstream in Brazil

Portugal’s Galp will prioritise expanding oil and gas output in Brazil and Namibia while considering a stock market listing of parts of its downstream business within two years, co-chief executive João Diogo Marques da Silva said.

Bulgaria takes 10% stake in Black Sea oil and gas exploration consortium

"The cheapest gas is our gas," energy minister says as Bulgaria acquires a 10% stake in the consortium exploring for oil and natural gas in the Han Asparuh offshore block.

MOL shares hit seven-year high after Russia agrees to sell NIS stake

Shares of Hungarian oil and gas company MOL surged to their highest level since 2007 after Russia agreed to sell its majority stake in Serbia’s NIS to MOL.

German LNG terminal operator challenges subsidies to federal competing projects

Deutsche ReGas, Germany’s privately owned LNG terminal operator, has launched legal action against the European Commission over its approval of up to €4.96bn in state aid for government-backed LNG terminals.

EU has lost urgency on energy security, EDP chief says

Four years after the outbreak of the war in Ukraine, the EU has lost the sense of urgency needed to strengthen its energy security.

Europe must view refining as critical infrastructure: VaroPreem CEO

He warned that that decades of closures and rising competition from newer plants abroad are reshaping the sector and driving consolidation.

Istanbul-listed Aygaz to acquire LPG vessel from Korea’s Hyundai Samho for $119mn

Turkey’s Aygaz (AYGAZ) has signed a shipbuilding contract with South Korea’s HD Hyundai Samho for the construction of a liquefied petroleum gas (LPG) transportation vessel, Aygaz said on January 15.

Oil production at giant Kazakh field Tengiz could be suspended for another seven to 10 days, says report

Oil production at Kazakhstan's giant Tengiz oilfield could reportedly be suspended for another seven to 10 days following the shutdown announced on January 18.

Serbia seeks US approval as Russians agree to sell oil firm NIS

Serbia has asked the United States to extend a licence allowing its largest oil company to keep operating, as Gazprom Neft agrees to sell its majority stake in the firm to Hungary’s MOL.

Russia’s oil and gas revenues could half in January

Kazakhstan's Tengiz oilfield halts output and export after fires break out at facilities

Oil production and exports at Kazakhstan’s Tengiz oilfield, operated by Chevron, have been halted after fires were reported at the field’s power generation and supply facilities.

Gazprom Neft agrees to sell stake in Serbia’s NIS to Hungary’s MOL

Russia’s Gazprom Neft has reached a provisional agreement to sell its majority stake in Serbia’s oil company NIS to Hungary’s MOL, in a deal that would require approval from the US Treasury as the firm seeks to escape US sanctions.

Unknown US firm eyes role in Bosnia-Croatia gas pipeline project

Representatives of little-known US firm AFFS Infrastructure and Energy have held talks in Bosnia on possible involvement in a gas pipeline project intended to diversify supply sources and reduce reliance on Russian gas.

Russia's Gazprom Neft nears deal to sell stake in Serbian refiner NIS to Hungary's MOL

Russian oil producer Gazprom Neft is close to selling its stake in Serbia’s NIS to Hungary’s MOL.

Azerbaijan launches gas supplies to Germany and Austria

The company said the total number of countries purchasing Azeri gas has now risen to 16.

IntelliNews Lambda: Europe’s deep freeze begins to bite as gas storage dips below seasonal trend

A deepening cold snap across Europe has begun to dent the continent’s gas reserves, with storage levels falling more sharply in recent days and, for the first time this winter, deviating measurably from the seasonal norm.

Kazakhstan diverts 300,000 tonnes of oil shipments away from CPC pipeline in wake of drone strike

Kazakhstan diverted 300,000 tonnes of crude away from the Caspian Pipeline Consortium in December after export infrastructure was damaged by a drone strike.

Serbia’s NIS restarts Pancevo refinery after US sanctions waiver

Serbia’s majority Russian-owned oil company NIS has restarted oil processing at its Pancevo refinery on January 18 after securing a temporary waiver from US sanctions.