EurOil - Europe Oil & Gas

Serbia’s NIS to resume crude oil deliveries to Pančevo refinery under US licence

Serbia’s Russian-controlled oil company, the Oil Industry of Serbia (NIS), has contracted the first deliveries of crude oil via the Adriatic Pipeline (JANAF) to restart production at its Pančevo refinery.

Cold snap pushes Hungary’s electricity consumption to record levels

Kazakhstan’s two major oilfields see output reductions of up to 200,000 barrels a day after Black Sea terminal disruptions

Disruptions at a major Black Sea export terminal reportedly resulted in output reductions of up to 200,000 barrels a day at two of Kazakhstan’s largest oilfields in December.

Russia-bound oil tanker sailing Black Sea calls for Turkish coastal guard assistance after suspected drone hit

A Russia-bound empty crude oil tanker sailing the Black Sea on January 8 reportedly called for assistance from the Turkish Coastal Guard after a suspected drone attack.

Western Balkans need to cut Russian energy ties and speed up EU power market integration, Bruegel says

Energy policy has become one of the most strategically important battlegrounds in the EU’s neighbourhood since Russia’s full-scale invasion of Ukraine in 2022.

Serbia considers raising NIS stake as MOL conducts due diligence

Serbia is considering increasing its stake in oil refiner NIS by at least five percentage points, while Hungary’s MOL has begun reviewing the company’s operations as part of talks over the possible purchase of the Russian-owned majority stake.

Harbour to enter US Gulf with LLOG acquisition

Harbour Energy has agreed to acquire LLOG Exploration from LLOG Holdings for $3.2bn, giving it a presence in the US Gulf of Mexico.

IntelliNews Lambda: Europe’s gas storage unusually full at 85% despite cold snap, forecast path largely unchanged

Europe's underground gas storage facilities remain unusually full for this point in the heating season, with inventories at 85.1% on January 7, according to aggregated data from GIE.

Chevron, Quantum line up bid for Lukoil assets, including Bulgaria refinery

US oil major Chevron and private equity firm Quantum Capital Group are preparing a bid for the international assets of sanctioned Russian oil producer Lukoil, a deal that would include the Burgas refinery in Bulgaria.

Turkey’s energy minister commends country’s first publicly-owned floating storage and regasification unit

Turkey’s first publicly-owned floating storage and regasification unit (FSRU) has so far provided 9.3bn cubic metres (bcm) of natural gas to the national transmission system, according to Energy and Natural Resources Minister Alparslan Bayraktar.

Oil, gas industry faces "tougher strategic balancing act" in 2026: WoodMac

Wood Mackenzie expects the strategic pressure on companies to intensify in 2026, warning that the industry faces “an even tougher strategic balancing act" in 2026.

Greece's Aphrodite partners approve FEED plan

Partners in the Aphrodite natural gas field offshore Cyprus have approved the start of front-end engineering and design (FEED) work for the project’s production facilities and export infrastructure.

Eni presses on with satellite model with refining spin-off

The new company will manage Eni’s traditional refining and storage assets in Europe and the Middle East, while also supporting the group’s longer-term industrial transformation strategy.

Russian gas exports to Europe crash 44% in 2025

Russia’s pipeline gas exports to Europe fell by 44% in 2025 to their lowest level since the mid-1970s, following the closure of the Ukrainian transit route and as the EU moves to phase out fossil fuel imports from Russia.

Turkey strikes new long-term agreement to import 33bcm of natural gas from Azerbaijan

Turkey has struck a new long-term agreement under which it will import 33bn cubic metres (bcm) of natural gas from Azerbaijan, Turkish Energy Minister Alparslan Bayraktar said on January 4 in a televised interview.

Geopolitical volatility triggers OPEC+ retreat to market neutrality

The leading factions of the OPEC+ alliance have opted to maintain current crude production ceilings

Poland's PERN strikes deal with Kazakhstan's KazTransOil on crude supplies

Poland’s oil pipeline operator PERN has signed an agreement on technical cooperation with Kazakhstan’s state pipeline company KazTransOil to support shipments of Kazakh crude to Germany.

MOL starts due diligence on Serbia’s NIS as US sanctions clock ticks

Hungary’s MOL has begun due diligence on Serbia’s Russian-controlled oil refiner NIS, as Belgrade pushes for a deal to lift US sanctions threatening the country’s fuel supplies.

Turkey’s Botas and Woodside agree to 9-year LNG deal

Turkish state-owned petroleum pipeline corporation Botas has signed a sales and purchase agreement with Australia’s Woodside energy.

US exports record 111mn tonnes of LNG in 2026

US shipped nearly 20mn more tonnes of LNG than its closest rival Qatar.

US grants NIS sanctions reprieve as Gazprom, MOL near deal

Serbia’s Russian-controlled oil refiner NIS can resume operations until January 23, easing supply pressures after sanctions halted crude imports.

Albania extends probe into Bankers Petroleum tax case

Europe's LNG imports surge to record 142bn cubic metres in 2025

Europe's LNG imports hit record 142bn cubic metres in 2025, up 28% from previous year, as continent continues reducing Russian pipeline gas dependence with December reaching 12.7bn cubic metres.

Serbia extends Russian gas deal to March, NIS talks continue

Serbia has agreed with Russia to extend its existing natural gas supply arrangement by three months until March 31, as uncertainty persists over the future of the country’s energy sector following US sanctions on its sole oil refiner.

Iran, Belarus move to implement oil cooperation deal

Iran and Belarus said their bilateral oil cooperation was moving into an implementation phase after officials reviewed practical steps to execute a joint oil memorandum of understanding.