EurOil - Europe Oil & Gas

Canadian energy firm assessing export facility at Port of Churchill

The push for an LNG export terminal on Hudson Bay is gaining momentum with Manitoba Premier Wab Kinew indicating that one of Canada’s largest energy firms is considering a facility at the Port of Churchill.

Norwegian sovereign wealth fund’s end-2025 exposure to Turkey amounts to record $1.7bn

Norway's sovereign wealth fund – Government Pension Fund Global (GPFG), sometimes referred to as the Norwegian Oil Fund – had invested over $1.7bn in Turkish companies as of the end of 2025.

EU considers pivoting from the US to Canada and Qatar for LNG supply

Tensions over Trump’s threats to annex Greenland have spurred EU to seek to reduce its dependence on the US.

Chevron reportedly gives assurances to help guarantee safe and reliable operation of Kazakhstan's Tengiz oilfield

Kazakhstan reportedly said on January 29 that Chevron has given assurances that it will strengthen measures to guarantee the safe and reliable operation of facilities at the Tengiz oilfield, following a series of incidents that disrupted output.

Paks output hit by prolonged shutdown caused by generator problem

Unexpected technical issues have cut Unit 3’s output and could keep it offline until March, costing MVM billions of forints and raising concerns over the ageing reactors’ long-term reliability.

Carlyle would create synergies by taking over Lukoil's Romanian assets

Lukoil said it had signed a conditional agreement with US private equity firm Carlyle to sell most of its assets outside Russia. Carlyle already has an established presence in Romania, and Lukoil's Romanian assets would create synergies.

US sanctions are reshaping the energy landscape in the Balkans

Planned sale of Lukoil's foreign assets to US private equity firm Carlyle could significantly alter fuel supply chains and ownership structures across Bulgaria, Romania and Serbia.

US firm Carlyle to acquire Lukoil assets in Bulgaria

Russia’s oil giant Lukoil has agreed to sell its foreign assets, including its Bulgarian operations, to US private equity firm Carlyle, marking a major shift in ownership of one of Bulgaria’s largest energy groups.

Kazakhstan requests US approval to purchase Russian Lukoil’s local assets

Kazakhstan has formally approached US regulators to seek approval to purchase Russian oil group Lukoil’s interests in the country’s energy assets, Reuters reported on January 28.

Croatia plans to build a gas interconnection with Serbia

Croatia is planning to build a gas interconnection with Serbia that would give Belgrade access to the liquefied natural gas (LNG) terminal on Krk island, Croatian Economy Minister Ante Šušnjar said on January 27.

Croatia’s JANAF to invest in Kazakhstan oil project via capital increase

Serbia clarifies details of planned NIS sale to MOL, ADNOC

Russia’s Gazprom and its oil arm Gazprom Neft reached a provisional agreement last week to sell their combined 56.15% stake in NIS to MOL, a move that could pave the way for the lifting of US sanctions if approved by Washington.

OKEA reports new discovery in Norwegian North Sea

Norwegian independent OKEA has made a new petroleum discovery in the North Sea near the Brage field, adding incremental resources that could be tied back to existing infrastructure.

US gas price surge sends ripples across global LNG market

It highlights how weather events in North America now ripple quickly through global gas and LNG markets.

WoodMac weighs up 2026 North Sea outlook

The consultancy said the downturn in spending will by structural factors, including a tougher fiscal and regulatory environment in the UK, the gradual unwinding of Norway’s current investment cycle, and a lack of new opportunities in Denmark.

Kazakhstan’s Tengiz oilfield expected to recover less than half of its normal output by February 7

Kazakhstan’s largest oilfield, Tengiz, has been reported as expected to recover less than half of its normal output by February 7, with production resuming only gradually since a fire and subsequent power outage.

Western oil producers may face $4bn in fines after losing Kazakh Karachaganak arbitration case

An international consortium developing Kazakhstan’s Karachaganak oilfield has reportedly lost an arbitration case brought by the Kazakh government, a ruling that could leave the partners facing compensation payments of up to $4bn.

Kazakh energy minister dismisses reports of talks on acquisition of Russian Lukoil’s assets in Kazakhstan

Kazakhstan’s Energy Minister Yerlan Akkenzhenov said on January 26 that Kazakhstan’s government is not engaged in discussions with Russia’s Lukoil over the acquisition of the company’s assets in the country, dismissing earlier reports.

Kazakhstan’s oil exports regain capacity after CPC mooring point returns to service and Tengiz resumes production

Kazakhstan’s main oil export route via the Russian Black Sea coast has regained some capacity. The Caspian Pipeline Consortium (CPC) has been reported as saying that one of its offshore loading facilities has returned to service.

Hungary to challenge EU ban on Russian gas imports at European Court

Hungarian government claims the EU used a "legal trick" to pass the regulation for phasing out Russian gas purchases

EU ban on Russian-origin fuel to raise logistical costs

An EU ban on importing fuel made from Russian oil outside Russia is forcing tanker operators to rework trading routes and is likely to raise logistics costs by increasing the share of ballast voyages.

Azerbaijan's SOCAR strikes deal to take 10% stake in Ivory Coast project from Eni

Italy’s Eni signed last week a binding agreement to sell a 10% stake in its Baleine offshore project in Ivory Coast to Azerbaijan’s state oil company SOCAR.

Russian court upholds claims by Gazprom against Linde over Amur GPP design violations

The Gazprom unit blamed alleged design violations for fires at the Amur gas processing plant.

France detains oil tanker allegedly part of Russia's shadow fleet

“We will not tolerate any violations,” French President Emmanuel Macron said.

Serbia values Russian stake in NIS at up to €1bn as MOL deal advances

Serbia’s President Aleksandar Vucic said on January 26 that the Russian-owned stake in Serbia’s oil company NIS, which is being sold to Hungary’s MOL, was worth between €900mn and €1bn.