EurOil - Europe Oil & Gas

Hungary’s MOL seeks more time for talks to buy Serbia’s NIS

MOL has asked US authorities for a one-month extension to complete talks to acquire a majority stake in Serbia’s oil company NIS.

Bulgaria replaces special administrator overseeing Lukoil assets

Bulgaria’s government has replaced the special administrator overseeing the local assets of sanctioned Russian oil group Lukoil, appointing a new manager to supervise operations of the country’s key refinery and fuel businesses.

Norway's Eldorado snaps up US offshore driller Vantage in $258mn deal

Norway-based Eldorado Drilling has agreed to acquire US offshore drilling contractor Vantage Drilling in a transaction valuing the company's equity at approximately $258mn.

Turkey renews gas arrangement with Azerbaijan, secures 33 bcm over 15 years

Turkey has renewed its gas import arrangement with Azerbaijan, securing supplies of 33bn cubic metres (bcm) of natural gas from Azerbaijan over 15 years.

Romania's Romgaz agrees €69mn takeover of Azomureș fertiliser assets

Rubio backs Trans-Caspian gas pipeline proposal in meeting with Turkmenistan’s top diplomat

Infrastructure could boost European energy security, though Russia could move to block it.

North Macedonia extends fuel tax relief until June 15

Canada’s Ksi Lisims signs 20-year LNG supply deal with Germany’s SEFE

A 20-year LNG supply deal has been signed by Canada’s Ksi Lisims project with German state-run firm Securing Energy for Europe.

Turkey cut Urals imports to lowest level in 18 months in May

Turkey cut imports of Russia’s Urals crude from Baltic and Black Sea ports in May to the lowest level in almost 18 months, as the grade loses some of its price advantage.

BP set to sign key new Azeri upstream deal

BP’s expected Babek deal could unlock one of Azerbaijan’s biggest undeveloped gas resources, but new volumes for Europe are years away.

Russia's Dmitriev says Europe needs Russia to survive

Russia's Kirill Dmitriev said Europe needs Russia to survive amid an energy crisis, after Bloomberg reported the EU is weighing a temporary freeze of its $44.10 price cap on Russian oil over the Iran war.

Poland's Orlen beats Q1 expectations on retail resilience, lowest EU fuel prices

Poland’s largest energy multi-utility Orlen reported Q1 results that beat market expectations on May 28 while offering Polish consumers the lowest fuel prices in the EU in the times of oil market volatility.

Ukraine may have resumed attacking Russian shadow tankers in Black Sea, three vessels hit off Turkey

Ukraine may have resumed attacking Russian shadow fleet crude oil tankers in the Black Sea following a lull in such drone operations.

Germany’s gas grid operators warn they may fail to secure suffiencent supplies to make it through the coming winter

Germany’s gas grid operators have warned that current market conditions and storage rules may be insufficient to secure supplies through the coming winter.