EurOil - Europe Oil & Gas

Serbia gives Russia 50-day deadline to sell majority stake in NIS

Serbia has set a 50-day deadline for Russia to find a new owner for its majority stake in the Serbian Oil Industry, President Vucic said on November 25, warning the country could take control of the company if no buyer is found.

US sanctions push Serbia’s only refinery toward shutdown

Serbia’s sole oil refinery could halt operations within days unless Washington grants a new licence to allow majority Russian-owned NIS to continue processing crude.

Serbia awaits US decision on sanctioned oil firm NIS

Serbia is awaiting a decision from Washington on whether it will grant a new licence allowing oil company NIS to continue operating the country’s sole refinery in Pancevo, as existing crude supplies are expected to run out.

Romania says it is protecting Romgaz’s participation in Lukoil-operated Trident offshore block

Romanian Prime Minister Ilie Bolojan said on November 21 that the Government has taken measures to protect the interests of state-owned natural gas producer Romgaz in the Trident offshore perimeter operated by Russia’s Lukoil.

KazMunayGas plans to divest 50% of its European assets

Kazakhstan’s state company KazMunayGas plans to sell up to 50% of its European assets, including KMGI with Romania’s largest refinery, Petromidia (4.8 million tonnes refining capacity),

Hungary’s MOL and Slovnaft take pipeline dispute to EU, allege Janaf violations

ADNOC seen as leading contender to buy Russia’s stake in NIS

Abu Dhabi National Oil Company (ADNOC) has emerged as the frontrunner to acquire Russia’s majority stake in Serbian oil company NIS, according to growing speculation in Serbian media.

UK extends sanctions waiver for Lukoil’s Bulgarian operations

The UK has broadened a sanctions exemption allowing transactions with Russian oil producer Lukoil’s operations in Bulgaria, adding two more subsidiaries to the licence.

Serbia says Russia in talks with three buyers for NIS stake

Russia is in talks with three potential buyers for its majority stake in Serbia’s oil group NIS, Serbia’s President said on November 20, adding that Belgrade expects progress on the issue by the end of the week.

Romania avoids taking over management of Lukoil refinery

Romanian authorities plan to draft framework legislation to facilitate the sale of Lukoil’s assets, including the Petrotel refinery. Initially, Romania planned to take over temporarily the management of the refinery.

Lukoil threatens Bulgaria with legal action over seizure of Burgas refinery

Lukoil said it reserves the right to seek legal protection of its interests in Bulgaria after Sofia appointed a special manager to oversee the company’s local operations.

Russia agrees to sell stake in Serbian oil firm NIS

The Russian owners of Serbia’s oil company NIS have agreed to sell their 56.15% stake and are in talks with a potential buyer, as Belgrade races to meet US demands for a full Russian exit from the company.

Czechia could receive shipments of Ukrainian oil via Druzhba

Czechia could receive shipments of Ukrainian oil via the Druzhba pipeline, Czech Radio reported, referring to ongoing talks between the Czech, Polish, Slovak and Ukrainian sides.

China’s Yangchang Petroleum purchases crude from UAE and Kazakhstan after halting Russian oil imports

US super-majors circle around Lukoil’s assets in Kazakhstan and Iraq

Exxon Mobil has reportedly joined Chevron in exploring potential acquisitions of Lukoil’s international assets since the US Treasury authorised companies to begin discussions with the sanctioned Russian oil firm.

OMV Petrom risks losing Neptun Deep exploration blocks after missing drilling deadlines

Romania's largest oil and gas company OMV Petrom (BVB: SNP) is at risk of losing concession rights for the Nard and Anaconda areas of the Neptun Deep perimeter in the Black Sea after failing to begin exploration drilling within contractual deadlines.

Czech energy and media billionaire Křetínský sets up joint venture with TotalEnergies

EPH of Czech energy and media tycoon Daniel Křetínský is to set up a new 50/50 joint venture with French oil company TotalEnergies.

Turkey’s TPAO planning $4bn raise with first-ever Islamic bond

State-owned Turkish Petroleum Corporation (TPAO) has plans to issue its first-ever Islamic bond, or sukuk, to raise around $4bn to fund the expansion of its oil and gas production, Turkey's Energy Minister Alparslan Bayraktar has told Bloomberg.

Bulgaria removes Russian chairman of Lukoil Burgas refinery

Bulgaria has removed the Russian chairman of Lukoil Neftochim Burgas, the country's largest oil refinery, as the government moves to take control of the company’s assets following the announcement of US sanctions on Lukoil last month.

European gas prices edge up in November amid cold snap

A small rally in futures reflects increasing heating needs as colder weather approaches.

Var Energi confirms Norwegian Barents Sea oil discovery

Norwegian oil company Vår Energi has confirmed its Zagato oil discovery in the Barents Sea after appraisal well 7122/8-4 S delivered successful results.

Equinor reports finding of probe into exposure events at Hammerfest LNG

The company said several contributing factors occurred simultaneously during the events, which took place between summer 2024 and summer 2025.

Poland's PKN Orlen acquires stake in Norway's Ekofisk project

The deal comes as DNO simultaneously acquires from Orlen a 20% interest in licence PL1135 – the home of the Cassio prospect – and a further 0.8% interest in the Verdande field.

Ukraine's DTEK imports first US LNG cargo

The shipment marks the first time a Ukrainian private energy company has chartered a vessel and arranged loading on FOB terms in the US.

Hungary to sue EU over ban on Russian gas

Hungary will challenge the EU’s plan to phase out Russian oil and gas by 2027, with Prime Minister Viktor Orban accusing Brussels of bypassing Budapest’s veto rights.