EurOil - Europe Oil & Gas
EU ban to cut Russian gas exports to Europe by 30 bcm in 2027, IEA says
The EU's ban will cut Russian gas exports to the bloc by 30 bcm in 2027, the International Energy Agency said, though Russian pipeline flows rose this year.
Heating season starts as the first EU gas tanks flip to drawdown - IntelliNews Lambda
Half of the EU's gas-storage countries were drawing down their tanks on November 1, the first day of the heating season, as Europe began burning a record-low winter reserve.
Argentina’s Sea Lion case faces jurisdiction hurdle over Falklands sovereignty, expert warns
Argentina’s legal challenge against the United Kingdom over the Sea Lion oil project north of the Falkland Islands could be rejected if the International Tribunal for the Law of the Sea (ITLOS) determines that the dispute falls outside its remit.
Ukraine's private gas producers export 54.5mn cubic metres in first month of sales - ExPro
Ukraine's private gas producers sold 54.5mn cubic metres abroad in October at €78.63/MWh, twice the domestic price, with five groups led by ESCO-Pivnich and DTEK taking 89%.
Europe's heating season underway as gas drawdowns start from record low storage
EU gas storage peaked at 74.96% on October 27, the lowest since records began in 2011, and fell to 74.6% by November 1 as Europe started its winter drawdown and prices swung on news from the Gulf.
Production at MOL’s Hungarian refinery back to full capacity one year after damaging fire
MOL's Hungarian refinery has returned to full capacity following an almost year-long, €49.4mn repair.
Serica secures six-well UK North Sea drilling programme targeting 30,000 boepd
Serica Energy has secured a drilling rig for a six-well campaign in the UK North Sea beginning in the third quarter of 2027, targeting opportunities that could add up to 30,000 barrels of oil equivalent per day to production.
DNO and partners approve fast-track Lyra oil project offshore Norway
Norwegian oil and gas producer DNO and its partners have approved the development of the Lyra oilfield in the North Sea, targeting first production in the first half of 2028.
Germany rejects Italian accusations over failure to fill gas storage
Germany has rejected accusations from Italy that it deliberately delayed filling its gas storage facilities ahead of winter to reduce costs before privatising state-owned energy companies.
EU countries accelerate release of 5.5% from strategic oil reserves
Eleven EU countries have agreed to accelerate the release of 42.6mn barrels of oil and petroleum products from strategic reserves by the end of January 2027.
UK oil and gas dealmaking reaches $19.6bn as North Sea consolidation accelerates
Oil and gas mergers and acquisitions involving British companies have reached $19.6bn so far in 2026, surpassing the $16.5bn recorded throughout 2025.
UK North Sea industry warns Budget tax reforms fall short of unlocking investment
The UK’s oil and gas industry has criticised the government's decision to delay replacing the Energy Profits Levy, warning that the October 28 Budget missed an opportunity to unlock up to GBP50bn in North Sea investment.
European oil majors reap war-driven profit windfall
Record refining margins and elevated oil and gas prices have delivered exceptional earnings, but companies remain cautious about reinvesting their newfound cash.
OMV Petrom’s net profit rises 18% to €800mn in January-September
OMV Petrom, Romania’s largest energy producer, reported an 18% y/y increase in net profit to RON4.1bn (€800mn) in Jan-Sep 2026, supported by higher oil and gas prices. Net profit rose by 68% year on year to RON2.2bn in Q3.
Serbia's NIS gets new US licence to continue operations until December 11
Serbia's oil company NIS has received a new special licence from the US Treasury allowing it to continue operating until December 11.
Canada and EU announce co-operation in LNG
Joint study will inform future LNG trade and investment decisions between the partners.
OPEC+ holds December output steady as 2027 call looms
OPEC+ left December production targets unchanged on November 1, deferring any fresh policy move into next year as the group grapples with Iran war export disruptions
Croatia's INA doubles nine-month net profit to €303mn as diesel margins soar
Croatian oil and gas company INA (ZSE: INA) more than doubled its nine-month net profit to €303.4mn as diesel margins soared.
Putin warns Europe faces rising costs from excluding Russian gas
Russian President Vladimir Putin has warned that efforts to exclude Russia from international gas markets will increase energy costs for European businesses and households, arguing that the EU is damaging its own economic competitiveness.
Moldova buys Ukrainian gas below European prices as winter costs surge
Moldova has secured its first natural gas supplies from Ukraine at prices below European market benchmarks, as Chisinau seeks cheaper alternatives to ease mounting energy costs ahead of the winter heating season.
France’s TotalEnergies warns Europe entering dangerous period as gas prices exceed €100 per MWh
Europe is entering a dangerous period in its gas market as prices exceed €100 per MWh and competition with Asia for limited LNG supplies intensifies ahead of the winter heating season.
Europe heads into winter with gas prices still soaring
Europe faces a difficult winter as storage levels lag historical norms, LNG supplies remain constrained and gas prices approach their highest levels since the 2022 energy crisis.
Hungary turns to US as Russian gas dependence faces deadline
Budapest is seeking US support to diversify its energy supplies, but its heavy reliance on Russian gas, long-term contracts and infrastructure costs complicate the transition.
Naturgy sees scope to continue Yamal LNG purchases despite EU ban
Spain's Naturgy sees opportunities to continue purchasing Russian LNG from the Yamal LNG project after the EU's import ban takes effect on January 1 2027.
Carlyle and EBRD agree to sell Romanian Black Sea gas operations to Mazarine
BSOG operates the Midia Natural Gas Development project, the first offshore hydrocarbon production development in the Romanian sector of the Black Sea in more than 30 years.
Polish energy group Orlen says North Sea Afrodite recoverable gas resources more than double
Poland's biggest power group, Orlen, reported on October 29 that new appraisal drilling on the Afrodite discovery in the North Sea shows that recoverable resources are more than twice the original estimate.
EU gas price breaks €100 per MWh for first time since 2022
European gas prices broke through €100 per MWh on October 28 for the first time in almost four years as fears of a winter shortage of Middle Eastern LNG deepened.
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