EurOil - Europe Oil & Gas

Kazakhstan redirects crude exports amid CPC disruptions

Kazakhstan is redirecting part of its crude oil exports away from the Caspian Pipeline Consortium (CPC) system towards alternative routes, including the Atyrau–Samara pipeline through Russia.

Erdogan asks Putin for limited shipping ceasefire. Hours later Russia hits three Turkish vessels in Ukraine ports

Attacks amount to rebuff to request made by Turkey’s president in face-to-face meeting with Russian leader.

Germany plans tightened control over Rosneft assets in wake of US sanctions

Germany is considering tightening the external administration regime governing Rosneft’s assets in the country in response to tougher US sanctions.

Kazakhstan so far loses 480,000 tonnes of oil due to Ukrainian drone strike on CPC

Kazakhstan has so far lost about 480,000 tonnes of oil output as a result of the Ukrainian drone attack on the Caspian Pipeline Consortium’s (CPC's) offshore infrastructure, TASS reported on December 11, citing Energy Minister Yerlan Akkenzhenov.

Hungary reaches gas supply agreement with Azerbaijan

Hungary has reached an agreement to purchase 800bcm of natural gas from Azerbaijan over the next two years, Foreign Affairs and Trade Minister Peter Szijjarto said on December 11.

Serbia cannot nationalise NIS without Russia’s consent, Lavrov says

Serbia cannot nationalise its sanctioned oil company, Naftna Industrija Srbije (NIS), without Russia’s consent, Russian Foreign Minister Sergei Lavrov said on December 11.

Romania extends OMV Petrom's onshore licenses in exchange for higher royalties, under broader agreement

Romania's Government said that it had approved measures to “rebalance the cooperation” with OMV Petrom for the next 15 years, following what it described as a principled agreement intended to support the country’s energy independence.

Croatia’s INA confirms new gas reserves in North Adriatic offshore field

TurkStream operator moves to Hungary to escape asset seizure

Romanian government extends Neptun Deep exploration period for OMV Petrom and Romgaz

OMV Petrom and its equal partner Romgaz received a two-year extension to the exploration period of the Neptun Deep offshore perimeter in the Black Sea, following their decision to proceed with a new exploration well. Overall concession ends in 2045.

Vucic says Russia has 37 days to sell NIS stake or Serbia will act

Serbia’s President Aleksandar Vucic has set out three possible outcomes for resolving the future of oil company NIS, which has been hit by US sanctions and unable to import crude for two months.

Norway's Equinor reports biggest hydrocarbon finds of the year

Norway’s Equinor has reported two new gas and condensate discoveries in the Sleipner area of the North Sea, its largest finds so far this year.

Hungary's MVM vows to cover domestic gas demand if Russian supply ceases

Hungary’s state-owned energy group MVM will be able to cover the country’s gas needs even if Russian imports cease.

TotalEnergies announces UK North Sea merger with Repsol, HitecVision

TotalEnergies announced on December 8 it will combine its UK North Sea oil and gas portfolio with a partnership between Spain’s Repsol and private equity group HitecVision, further accelerating consolidation in the ageing basin.

Eni strikes LNG supply contract with Thailand's Gulf Development

Eni has agreed a long-term LNG sales contract with Thailand’s Gulf Development, strengthening its position in Asian gas markets and advancing plans to build a diversified global LNG portfolio.

Putin authorises sales involving Rosneft-Shell JV in Caspian Pipeline Consortium

Russian President Vladimir Putin has authorised potential transactions involving the joint Rosneft–Shell stake in the Caspian Pipeline Consortium.

OMV Petrom files documents for second deep-water exploration well in Neptun Deep

OMV Petrom, the operator of the Neptun Deep gas perimeter together with Romgaz, has submitted environmental documentation for a new deep-sea exploration well. The new exploration well is required under the concession agreement.

Viktor Orban thanks Turkey for securing route for Russian energy exporters to Hungary

Eni signs LNG supply deals with Thailand and Turkey

Italian energy company Eni has signed a pair of long-term LNG sales and purchase agreements with energy companies in Thailand and Turkey.

MOL, TPAO begin joint seismic surveys in Southern Hungary

MOL and Turkish Petroleum Corporation have begun seismic surveys to assess potential oil and natural gas reserves in Southern Hungary, the Hungarian oil group said in a statement.

Western majors lobbying Ukraine to stop attacks on CPC oil export route, says analyst

Kazakhstan agrees new deal to pipe crude to China in response to drone raid that damaged Black Sea shipment terminal.

Ukraine's Black Sea attacks may prove counter-productive

Ukraine’s extension of the conflict into the wider region risks fuelling tensions with its neighbours.

US sanctions on Russian-owned NIS shake Serbia’s FX market

Serbia’s central bank sought to calm markets on December 8 after a rush by citizens to buy euros caused temporary shortages at some exchange offices and pushed the dinar to its weakest level this year.

Slovakia to join Hungary in challenging phase out of Russian fossil imports at EU court

Slovakia is to join Hungary in challenging the phase out of the Russian fossil fuel imports at the European Court of Justice, according to the Hungarian Minister of Foreign Affairs Péter Szijjártó.

Three Kazakh senior managers at Batumi Oil Terminal detained on suspicion of selling undeclared crude

Three Kazakh citizens working as senior managers at Batumi Oil Terminal on the BlackSea coast in Georgia have been detained on suspicion of participating in a large-scale scheme to sell undeclared crude.