Region: Europe Category: Oil and Gas Frequency: Every Thursday
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About: EurOil analyses key trends such as the influx of private equity into the North Sea and how it is shaping the basin's future. The monitor also provides key insight on major trends such as decommissioning and the development of frontier regions like West of Shetland. Midstream developments also take prominence, with deep analysis of the region's gas needs and how they will be met in the future.
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Kazakhstan cuts oil production after drone attacks cause CPC export disruption
Kazakhstan has temporarily reduced oil production after a series of drone attacks forced the suspension of export loadings at the Caspian Pipeline Consortium (CPC) terminal on Russia's Black Sea coast, says a report.
Low Danube levels threaten Serbia’s river traffic, disrupt fuel imports
Exceptionally low water levels on the Danube are threatening to disrupt river navigation in Serbia and have slowed imports of petroleum products, adding pressure to fuel supplies amid high demand and elevated global oil prices.
Norway's Equinor strikes oil near Johan Castberg
The discovery was made at the Skrugard North Tubåen prospect, around 6 km north of Johan Castberg and 240 km northwest of Hammerfest.
EU backs 21th sanctions package on Russia, targeting banks, oil trading and cryptocurrency
EU ambassadors agreed a 21st sanctions package against Russia on July 23, targeting more banks, oil trading and cryptocurrency networks and vessels supporting Moscow’s oil exports.
Turkey’s gas, crude purchases up 3% y/y in May
Turkey’s natural gas imports rose 2.95% y/y to 3.64bn cubic metres (bcm) in May, while oil and petroleum product imports increased 2.97% y/y to 4.09mn tonnes, according to monthly reports issued by the Energy Market Regulatory Authority (EPDK).
Romania’s oil supplies at risk after Kazakhstan suspends CPC exports via Black Sea
Romania's crude oil supplies could come under pressure after Kazakhstan suspended exports through the CPC terminal at Russia's Black Sea port of Novorossiysk. Kazakhstan supplies slightly more than 50% of the crude oil refined in Romania.
EU naval forces board suspected Russian shadow fleet tanker
EU naval forces boarded the Cameroon-flagged products tanker South Star in the Mediterranean on July 20 over suspicions that it was fraudulently claiming its nationality.
New UK leadership offers chance for new energy policy
Andy Burnham should combine the UK’s clean-energy ambitions with a reset of North Sea policy, supporting domestic oil and gas production to curb import dependence, retain industrial capacity and strengthen energy security.
European diesel stocks on track for 11-year seasonal low
Global fuel supply remains extremely tight amid ongoing blockage of the Strait of Hormuz following the re-escalation of the US-Iran war.
TotalEnergies commissions second SOx scrubber at Antwerp refinery
The scrubber will help the site meet tighter emissions requirements attached to its renewed operating permit.
Croatia's INA completes first of five gas wells in new offshore campaign
Croatia’s INA has completed the first well in a $74mn five-well drilling campaign aimed at raising gas production from its mature offshore North Adriatic fields.
Norway's Equinor enjoys wartime bump in profits in Q2
Equinor produced 2.165mn barrels of oil equivalent per day during the quarter, 3% more than a year earlier, supported by new production in Norway, the UK and Brazil.
Allied Biofuels taps Latvia's Pro Logistic Services for Uzbekistan SAF exports
Allied Biofuels has signed a logistics cooperation agreement with Latvia's Pro Logistic Services SIA to develop export infrastructure for sustainable aviation fuel (SAF) and electric sustainable aviation fuel (e-SAF) from its planned biorefinery.
Kazakhstan warns Kashagan operator of possible criminal action over unpaid environmental fine
Kazakhstan has reportedly warned the head of the consortium operating the Kashagan oil field of possible criminal prosecution after the developer failed to pay a KZT 2.3 trillion ($4.92bn) environmental fine,
Ukraine not behind latest drone attacks on tankers serving main Kazakh oil export route, claims Kyiv
Ambassador to Astana suggests Russia is running false flag operations.
Norway's SLB OneSubsea secures midstream, upstream contracts for Var Energi
Oslo-based SLB OneSubsea has secured two contracts from Norwegian operator Vår Energi covering gas export infrastructure at the Goliat field and new subsea wells at Balder off Norway.
Norwegian gas output beats forecast in June
Norway’s natural gas production rose by more than 13% year on year in June and exceeded the official forecast by 5.1%.
OMV Petrom, Romgaz install platform at Neptun Deep gas project off Romania
OMV Petrom and Romgaz have installed the Neptun Alpha production platform at their Neptun Deep gas project in the Romanian Black Sea, completing another major step towards first production in 2027.
Orcadian eyes plan to use UK gas to power data centre
The proposed Earlham Gigagrid would combine production wells, an offshore gas-fired power station equipped with carbon capture and a neighbouring data-centre platform.
TotalEnergies predicts $1bn gain in Q2 earnings as higher prices offset Middle Eastern output losses
TotalEnergies expects its upstream cash flow to rise by around $1bn quarter on quarter in April through June, as sharply higher oil prices more than offset production losses caused by the Middle East conflict.
London-listed oil junior Zenith raises $2.85mn in Norway
London-listed oil junior Zenith Energy has raised around £2.1mn through a private placement with existing institutional investors in Norway, with the proceeds earmarked for biogas and solar projects, legal costs and working capital.
Norway's Var Energi snaps Denmark's BlueNord in $1.3bn deal
Norway’s Vår Energi has agreed to acquire BlueNord in a cash-and-share transaction valued at around $1.3bn, gaining producing assets in Denmark and extending its upstream operations beyond Norway for the first time.
Ukraine drone attack halts oil loadings at Kazakhstan's main export terminal
Oil loading operations at the CPC terminal on Russia's Black Sea coast have been suspended again, following after a Ukrainian drone attack on an oil tanker.
Serbia's Vučić unsure US will extend NIS sanctions waiver beyond July 31
Serbia’s President is uncertain whether the United States will extend a sanctions waiver allowing oil company NIS to continue operating beyond July 31, casting doubt on the future of talks to remove Russian ownership of the company.
Czechia ends regulation of fuel prices
Regulation of fuel prices came to an end in Czechia on July 20, which is likely to lead to a renewed spike in fuel prices across the country.
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