EurOil - Europe Oil & Gas

Hungary awards three new hydrocarbon concessions to MVM, MOL

The Hungarian government has awarded concessions for oil and gas exploration in three areas to boost domestic production and reduce the country's dependence on energy imports.

Ukraine halted Black Sea tanker strikes after Vance's July 31 call with Zelenskyy, FT reports

Ukraine halted tanker strikes near Russia's Novorossiysk port after a July 31 Vance-Zelenskyy call, the Financial Times reported, as Washington moved to shield Chevron and Exxon's Kazakh oil interests.

UK issues bioenergy-CCS permit for power station in Yorkshire

The UK Environment Agency has issued energy firm Drax with a revised environmental permit covering its proposed bioenergy with carbon capture and storage development at the Drax power station in North Yorkshire.

UK’s Centrica delivers first LNG cargo to Honduras

British energy trader Centrica has delivered its first LNG cargo to Honduras.

SLB to stimulate oil reservoirs for Norway's Equinor

The agreement will provide Equinor with dedicated offshore stimulation capacity to support the development of tight reservoirs and maximise recovery from future wells.

UK's Noble scores major oil drilling contract off Norway with ConocoPhillips

The contract is due to start in the third quarter of 2027. Noble did not disclose its value.

Russia strikes back

IntelliNews Lambda: Europe's gas storage hurts German, Netherlands the most, the rest of EU not so much

Underground gas storage facilities across the European Union are 57.9% full - the lowest level ever recorded for early August since comparable data began around 2009-11 - leaving Europe with a badly depleted buffer heading into winter, RBC...

Exxon reportedly links $80bn Kashagan expansion to settlement of Kazakhstan dispute

ExxonMobil is said to have told Kazakhstan that a potential $80bn investment to expand production at Kashagan oil field depends on resolving a long-running $150bn dispute between the government and international consortium members.

Ukraine pledges not to strike Kazakh oil infrastructure in Black Sea

Fire at Bratislava’s Slovnaft-MOL refinery is under investigation

Greece’s DEPA delivers LNG cargo to Bulgartransgaz

Greek energy company DEPA Commercial has completed the shipment of an LNG cargo to Bulgaria’s state-run energy firm Bulgartransgaz.

Azerbaijan stresses it is prepared to ship gas to Ukraine

Azeri Foreign Minister Jeyhun Bayramov made the comments during a joint press conference with his Ukrainian counterpart Andrii Sybiha in Kyiv on August 6.

MOL says NIS negotiations enter final stage as US extends licence until August 28

Oil transit fees owed to Turkey by Iraqi Kurdistan have vanished in Jersey, says MP

“This is called international robbery,” remarks opposition lawmaker, claiming documents show $229mn has evaporated on island.

Gran Tierra sells Colombian, Ecuadorian oil assets to Maurel & Prom for $1.3bn including debt

Canadian oil and gas producer Gran Tierra Energy has agreed to sell its Colombian and Ecuadorean oil business to France's Maurel & Prom for $1.33bn, including debt, in a move that will end its presence in South America.

CPC operations vital to Kazakhstan face repeated interruptions as tanker shortages follow drone attacks, says report

CPC, which runs the main export route for Kazakhstan's crude oil, has repeatedly suspended operations this week because of safety concerns and a shortage of tankers following drone attacks near the Russian Black Sea coast, says a report.

Polish Orlen's Q2 profits skyrocket even as it keeps fuel prices at lowest level in EU

Poland's largest energy multi-utility Orlen said on August 6 its net profit skyrocketed by 427% y/y to PLN7.72bn (€1.79bn) in Q2 2026, even as it kept its fuel prices the cheapest in the EU.

JANAF and MOL sign crude oil transport deal

Croatia's state-owned oil pipeline operator JANAF said on August 6 it had completed a contract with Hungary's MOL Group for the transport of 2.05mn tonnes of crude oil through its pipeline system in 2026.

Turkey’s imports from Russia sink to lowest since May 2021 as energy trade reroutes

Turkey’s imports from Russia dropped 40.5% y/y to $2.1bn in July, falling to their lowest monthly level since May 2021, as energy trade appeared to shift toward other suppliers amid heightened security risks in the Black Sea.

Kazakhstan's July oil output falls on CPC export disruptions

Turkish refiner Tupras orders four tankers from Korea's Daehan, Samsung for $370mn

Company has also purchased a second-hand Aframax tanker undergoing work at a Chinese CSSC subsidiary for $90mn.

Russian gas heads for Iran via Azerbaijan, retracing a Soviet-era pipeline route

Russia and Iran are moving closer to implementing a long-negotiated natural gas agreement routed through Azerbaijan, retracing a Soviet-era pipeline corridor last used in the 1970s.

Serbia races to secure fuel supplies as historic Danube drought threatens imports and agriculture

Serbia is facing growing pressure on its energy and agricultural sectors as record-low water levels on the Danube disrupt fuel imports and deepen concerns over the impact of a prolonged drought.

Russian LNG remains embedded in Europe

Russian LNG remained embedded in the EU’s supply mix in July even as Europe’s overall imports of the fuel fell to their lowest level in almost two years.