EurOil - Europe Oil & Gas
ECB warns diesel squeeze will feed eurozone inflation
Persistently high diesel prices are likely to feed broader inflation across the eurozone as constrained global refining capacity and geopolitical disruption keep supplies tight, European Central Bank Vice-President Boris Vujčić has warned.
US lawmakers urge Trump to end sanctions waiver for Serbia's NIS
Two Republican congressmen have urged the Trump administration to stop extending a sanctions waiver for Serbia's Russian-owned oil company NIS, saying temporary licences were allowing the company to delay a change in ownership.
Serbia, Romania to launch tenders for new gas interconnector
Serbia and Romania are expected to launch tender procedures soon for a new gas interconnector between the two countries, with construction planned to begin early next year.
Europe’s diesel dependence exposed by threatened US export restrictions
Europe successfully replaced Russian diesel after 2022, but it did so by becoming increasingly dependent on distant suppliers, particularly the US.
Hungary’s MOL completes repairs ahead of Danube refinery return to full capacity
Hungary’s MOL has completed repairs to a major crude distillation unit at its Danube refinery, paving the way for the 165,000 barrel-per-day plant to return to full capacity after almost a year of constrained operations.
UK's Grangemouth petchems firm marks decade of reliance on US shale ethane
UK petrochemicals firm INEOS has marked ten years since the first cargo of US shale-derived ethane arrived at its Grangemouth petrochemical complex in Scotland, highlighting the site’s long-term dependence on transatlantic feedstock supplies.
US criticises Europe over slow emergency oil-stock releases
France’s Elengy starts €220mn modernisation of Montoir LNG terminal
French LNG terminal operator Elengy has launched a €220mn ($259mn) modernisation of its Montoir-de-Bretagne terminal, seeking to extend the life of one of Europe’s busiest import facilities while sharply reducing its emissions.
Italy, Czech Republic push for wider easing of EU energy rules
Italy and the Czech Republic are preparing joint proposals to ease EU energy and carbon-market rules, extending pressure on Brussels beyond the possible postponement of new methane requirements for imported oil and gas.
EU energy crisis adds €100bn to fossil-fuel bill
The EU has spent an additional €100bn on fossil fuels since the start of the US-Iran war without receiving any additional oil or gas, underscoring the economic cost of the bloc’s continued dependence on energy imports.
EU methane rules run into energy security reality
Brussels plans to postpone key methane requirements for imported oil and gas after mounting government and industry pressure, exposing a growing tension between the EU’s climate ambitions and its need to keep access to diverse energy supplies.
High gas prices force Europe back towards coal
Surging natural gas prices are pushing European power generators back towards coal, reversing some of the fuel-switching that has driven the most carbon-intensive fossil fuel steadily out of the region’s electricity mix.
EU urges demand cuts as low gas stocks raise winter risks
The European Commission has urged member states to consider reducing gas and electricity consumption as Europe approaches winter with unusually low gas inventories and continued uncertainty over LNG supplies.
QatarEnergy extends force majeure on LNG supplies to Italy's Edison
QatarEnergy has extended force majeure on LNG supplies to Italy’s Edison until early December, prolonging a disruption that began in April and forcing the Italian utility to continue sourcing replacement cargoes.
TotalEnergies sets $14-17bn annual investment range through 2032
France’s TotalEnergies plans to invest a net $14-17bn per year between 2027 and 2032 as it targets continued growth in oil, gas and electricity production into the next decade.
Italy calls refiners for talks on boosting fuel output amid supply crunch
Italy will hold talks with the country’s major refiners on October 8 over increasing domestic fuel production, as disruptions to global supplies push up diesel, gasoline and jet fuel prices.
Norway's Aker BP raises resource estimates for pair of Norwegian oil and gas discoveries
Aker BP,Equinor and DNO have increased the estimated size of the Verdandi and Lillefix discoveries in the Norwegian North Sea following an appraisal well, strengthening the case for a potential tie-back to the producing Symra field.
Romania's OMV Petrom and Romgaz confirm Neptun Deep first gas for H1 2027
OMV Petrom and Romgaz have confirmed that the Neptun Deep offshore gas project remains on schedule, with first natural gas expected in the first half of 2027 and a plateau production of 8 bcm per year targeted for the third quarter.
Serbia expects extension of Russian gas supply deal
Serbia expects its gas supply arrangement with Russia to be extended beyond September 30, Aleksandar Vucic said after a phone call with Russian President Vladimir Putin.
German petchems producer Evonik turns down takeover offer from BASF
German specialty chemicals producer Evonik Industries has rejected an initial takeover approach from BASF as too low, complicating efforts by Europe's largest chemicals group to pursue a potentially transformative consolidation deal.
Turkey's TPAO seeks licence for oil deposit near flagship Sakarya offshore gas field
Turkey's state-owned TPAO has applied for a production licence covering an oil-bearing area in the Black Sea, potentially opening a new offshore oil development frontier alongside the country's rapidly expanding Sakarya gas project.
TotalEnergies takes FID on next phase of Azerbaijan's Absheron gas field
France’s TotalEnergies and its partners have taken a final investment decision (FID) on the full development of Azerbaijan's Absheron gas and condensate field, which will quadruple gas production to 6 bcm per year from 2029.
Moldova approves 30% hike in household gas prices amid spike in import costs
Moldova's energy regulator has approved a 29% increase in household natural gas prices from October 1, marking the second sharp rise in a month as higher European gas prices feed through into state supplier Energocom's procurement costs.
Gas-tastrophe! Global energy chiefs drill for more while their own seeps away
The global gas industry is spending billions of dollars drilling new fields, constructing LNG terminals and securing supply routes while allowing huge quantities of the commodity it already produces to leak, vent or burn into the atmosphere.
Austria's oil supply hangs on one pipeline and a war-hit Black Sea port
Austria's crude supply runs through a single pipe from Trieste, and more than half starts at a Russian Black Sea port that Ukrainian drones keep hitting.
Velocys launches largest aviation fuel reactor for Europe's SAF plants
Velocys has released AlphaCore 800, its largest microchannel Fischer-Tropsch reactor to date, capable of producing up to 800 barrels per day of Fischer-Tropsch fluids from a single unit, the company announced on September 20 via...
Serbia's sanctioned oil firm NIS seeks new US licence
Serbia's oil company NIS, majority-owned by Russian energy companies, has asked the US Treasury for a new licence to continue operating after its current sanctions waiver expires on September 30.
Falklands extends offshore oil licences as Argentina steps up legal challenge
The Falkland Islands government has extended existing offshore oil licences for five years as Argentina steps up legal and political efforts to block development of the territory’s petroleum resources.
Bulgaria lifts ban on petroleum product exports to EU
Bulgaria's parliament has voted to lift a temporary ban on exports and deliveries of petroleum products to the European Union, mainly diesel and aviation fuel, that has been in place since October 2025.
Netherlands cuts gas-storage filling target to 93 TWh
The Netherlands has cut its gas-storage filling target for the coming winter to 93 TWh from 115 TWh, following a European Commission call to ease storage requirements amid tight market conditions.
Italy, Norway deepen energy ties amid supply concerns
Italy and Norway have pledged to deepen energy cooperation as Rome seeks to strengthen supply security amid renewed volatility in global oil and gas markets.
Vallourec wins Prinos CO2-storage tubular contract in Greece
France’s Vallourec has won a contract to supply tubular products for the first phase of the Prinos CO2 storage project offshore Greece.
TotalEnergies commits €100mn to AI for oil and gas exploration
TotalEnergies will invest more than €100mn in a three-year partnership with French artificial intelligence company Mistral to develop advanced AI models for oil and gas exploration and reservoir engineering.
UK's Ithaca Energy joins FTSE 100 after rapid North Sea expansion
UK-based Ithaca Energy has joined the FTSE 100 index, marking another milestone in its rapid expansion into one of the UK North Sea’s largest independent producers.
Norway’s DNO publishes scheme document for Capricorn takeover
Norway’s DNO has published the scheme document for its recommended takeover of London-listed Capricorn Energy, advancing the deal towards shareholder votes next month.
Fulkrum wins Vår Energi inspection framework off Norway
London-based Fulkrum has secured an inspection services framework agreement with Vår Energi, supporting a portfolio of offshore projects on the Norwegian Continental Shelf.
Hornbeck lands two-year UK North Sea decommissioning contract
New York-listed Hornbeck Offshore Services has secured a two-year decommissioning contract in the North Sea, with work due to begin in the second quarter of 2027.
UK drone completes first cross-border offshore methane survey into Norway
UK drone operator Flylogix has completed what it described as the country’s first civilian cross-border offshore drone flight, surveying methane emissions at Equinor’s Statfjord B platform in Norwegian waters.
SLB wins Johan Sverdrup Phase 3 monitoring contract off Norway
Global oilfield services company SLB has won a contract from Equinor (OSE) to expand real-time production monitoring across the Johan Sverdrup Phase 3 development in the Norwegian North Sea.
Norway’s Aker BP makes small North Sea gas discovery
Norway’s Aker BP has made a small gas discovery at the Alpehumle prospect in the North Sea, with recoverable resources estimated at 1-15mn barrels of oil equivalent.
Halliburton wins multi-year Cronos drilling contract offshore Cyprus
Halliburton has secured a multi-year contract from Eni covering well construction and completions at the Cronos gas development offshore Cyprus.
UK’s INEOS mothballs three UK chemical plants over high gas prices
The UK’s INEOS has begun mothballing all three of its acetyls plants in Hull, northern England, blaming soaring European gas prices for making production uncompetitive against rivals in the US and China.
ORLEN, Naftogaz plan three LNG cargoes for Q1 2027
Poland’s ORLEN and Ukraine’s Naftogaz have agreed a framework for the supply of three LNG cargoes in the first quarter of 2027, expanding cooperation aimed at strengthening Ukraine’s gas security.
Norwegian gas production drops 2.8% m/m in August
Norwegian gas production fell 2.8% month on month in August and came in below official forecasts, although output remained higher than a year earlier.
CO2 injections start at Denmark's Greensand CCS project
The UK’s INEOS Energy has started commercial operations at the Greensand CCS project in the Danish North Sea, opening what it describes as the EU’s first full-scale CO2 storage site.
EU remains opposed to Arctic drilling despite appeals from Norway
The EU intends to maintain its opposition to new oil and gas development in the Arctic, rebuffing calls from Norway to soften its stance as Europe grapples with renewed energy security concerns.
Chevron plots seismic surveys off Greece ahead of drilling campaign
US major Chevron plans to begin seismic surveys offshore Greece before the end of 2026, advancing an exploration campaign spanning the Ionian Sea and waters south of the Peloponnese and Crete.
Norway's Equinor to supply Thailand's PTTT with LNG
Norway’s Equinor (OSE:EQNR) has signed its first long-term LNG supply agreement with Thailand’s PTT International Trading (PTTT), as the Norwegian group moves to double its global LNG portfolio by the end of the decade.
Reabold and Union Jack clash over UK oil merger
Reabold Resources (AIM:RBD) said on September 21 that it strongly rejected a series of assertions made by Union Jack Oil (AIM:UJO) in a rejection circular published 10 days earlier, covering the value of the offer, the prospects...
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