EurOil - Europe Oil & Gas

Serbia to submit final NIS proposal to MOL as talks near deadline

MOL has been in exclusive talks to acquire a 56.15% stake in NIS from Russia’s Gazprom Neft and Gazprom, which are under pressure to divest following US sanctions imposed in 2025.

Turkey seeks higher Kazakh oil flows to Mediterranean via BTC

Turkish President Recep Tayyip Erdogan has said Turkey wants greater volumes of Kazakh oil to reach global markets through the Baku-Tbilisi-Ceyhan (BTC) pipeline.

Serbian tycoon Karić signals interest in NIS as takeover race widens

Serbian businessman Bogoljub Karić has signalled interest in acquiring a stake in Naftna Industrija Srbije, becoming the latest potential bidder as uncertainty grows over the future ownership of the energy firm.

Lavrov accuses US of seeking to expel Russian oil firms from global markets

Russian Foreign Minister Sergey Lavrov has accused the United States of “deliberately pushing” Russian oil companies out of international markets, including by seeking to take over Rosneft's cooperation with Venezuela.

Serbia dissatisfied with MOL’s revised NIS offer, talks to continue

Revised offer failed to address concerns over the Pancevo oil refinery and its role in supplying the domestic market, Energy Minister Dubravka Dedovic Handanovic said.

BP joins SOCAR-led PSA, agreement is British giant's first upstream Uzbekistan deal

British oil and gas giant BP has entered Uzbekistan’s upstream energy sector for the first time, joining a production sharing agreement (PSA) for six exploration blocks in the country’s remote northwestern Ustyurt region.

Hungary resumes diesel exports to Ukraine, as country faces depleting fuel reserves

Independent petrol stations warn of potential closures and regional shortages, after MOL's strategic diesel reserves run out and imports dry up following the introduction of the government's fuel price cap.

BP to divest shares in major UK CCS projects

BP announced on May 7 it planned to sell stakes in two major UK carbon capture and storage projects, as oil majors continue to trim spending and bring in partners for capital-intensive low-carbon developments.

Why windfall taxes don't work

As Europe reels from the Hormuz crisis, growing calls for windfall taxes on oil and gas companies are colliding with fears that such measures could deepen the continent’s dependence on volatile energy imports.

US to account for two-thirds of EU LNG imports this year and 80% by 2028: IEEFA

Europe is becoming increasingly dependent on LNG from the US, with US supplies expected to account for around two-thirds of the continent’s LNG imports this year.

Bulgaria's Bulgargaz picks Shell for US LNG delivery

Bulgarian state gas supplier Bulgargaz announced this week it had selected Shell to deliver an LNG cargo from the US under a tender aimed at securing supply for the summer season.

Shell posts higher quarterly profit in two years on trading gains

Shell on May 7 reported its highest quarterly profit in two years, buoyed by strong trading and refining performance during extreme volatility in global energy markets caused by the Iran war.

Lansdowne pushes ahead with arbitration case against blocked oil project in Ireland

Lansdowne Oil & Gas said it had cleared another procedural hurdle in its arbitration case against Ireland over the stalled Barryroe oil and gas project.

Norway to invest surge in oil and gas in revenues in sovereign wealth fund

The government said on May 12 the additional income would largely be saved in the country’s sovereign wealth fund rather than spent domestically.

Norway's Gullfaks field ships out 5,000th oil cargo

Equinor’s Gullfaks field in the Norwegian North Sea has shipped its 5,000th oil cargo, highlighting the continued importance of mature offshore fields in maintaining energy supplies to Europe, the company announced last week.

EU set to soften methane regulation amid crisis

The EU is preparing to soften enforcement of its methane emissions rules for oil and gas imports as the Iran war drives renewed fears over Europe’s energy security.

EnergyPathways eyes UK's Port of Barrow as site for infrastructure for offshore gas and hydrogen storage

EnergyPathways announced this week it had signed a collaboration agreement with Associated British Ports to assess the Port of Barrow in northwest England as a potential location for onshore infrastructure for its Marram Energy Storage project.

Dolphin Drilling secures UK North Sea, India deals

Offshore rig contractor Dolphin Drilling has signed a contract with Harbour Energy for the semi-submersible drilling rig Paul B. Loyd Jr. in the UK sector of the North Sea, adding around $150mn to its firm backlog.

Croatia says it will act to keep gas prices low as subsidy deadline nears

Putin pledges to cover Slovakia's energy needs

Russian President Vladimir Putin pledged to continue supplying Slovakia with energy resources during talks with Slovak Prime Minister Robert Fico.

EU imports record volumes from Yamal LNG in April

The figure represented 98% of all LNG exported from the Arctic project over the period.

Italy’s Edison expects two-thirds of LNG supply from Qatar to be delivered shortly after any peace deal

QatarEnergy’s largest Italian customer Edison forecasts that it will receive about two-thirds of its contract LNG volumes between 30 to 45 days after any peace deal between the US, Israel, and Iran.

Hungary’s MOL reports sharply lower Q1 EBITDA as downstream hit by refinery fire and pipeline halt

Hungarian oil giant MOL posted a disappointing Q1 earnings report due to weak downstream results after a fire reduced capacity at its Hungarian unit and the delay in the reopening of the Druzhba pipeline.

INA, MOL discuss possible return to Syria oil and gas operations

Serbia rejects MOL offer in NIS ownership talks

Serbia is not satisfied with a proposal from Hungarian oil and gas group MOL regarding the future ownership structure of sanctioned Serbian refiner Naftna Industrija Srbije (NIS).