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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Kazakh oil output drops after CPC drone strike
Kazakhstan’s combined oil and condensate production reportedly fell 6% in the first two days of December after a Ukrainian drone attack damaged the Caspian Pipeline Consortium’s (CPC's) Russian Black Sea terminal.
Romania opts for supervision only of Lukoil refinery during ownership transfer
Romanian authorities will supervise but not manage operations at Lukoil’s Petrotel refinery while the Russian group seeks a buyer for the asset, an emergency ordinance adopted this week states.
Turkey extends expiring Russian gas import contracts by year, announces plans to invest in US gas production
Turkey has extended its expiring Russian gas import contracts by a year, energy minister Alparslan Bayraktar announced on December 4.
Turkey tells Russia, Ukraine to keep energy infrastructure out of war
Turkey has told Russia, Ukraine and all relevant parties to ensure energy infrastructure is kept out of the Russo-Ukrainian war, Turkish Energy Minister Alparslan Bayraktar said on December 4.
Serbia's NIS says fuel sales unaffected despite refinery shutdown
Serbia’s Oil Industry of Serbia (NIS) said on December 3 that fuel sales across its retail network were continuing normally despite the shutdown of the country’s only oil refinery and tightening pressure on banks from US sanctions.
Turkish shipowner halts Russia-linked operations after blasts off Senegal
Turkish shipping company Besiktas has suspended all operations connected to Russia after one of its oil tankers was damaged by multiple explosions near Senegal’s coast,
Hungary to challenge EU plans to ban Russian oil and gas in court
Foreign Minister Peter Szijjarto says plan to ban EU member states' imports of Russian oil and gas from 2027 would "undermine Hungary's energy security".
Slovak Economy Minister Saková claims Bratislava negotiated extension of Russian gas imports
Slovakia has a valid contract with Gazprom until 2034 and opposes EU plans to phase out Russian fossil fuel imports by 2027.
Turkey’s TPOC completes entry into three blocks onshore and offshore Pakistan
Turkish Petroleum Overseas Company (TPOC) has reportedly completed its entry into three blocks in Pakistan.
“Very scary” attacks on Black Sea tankers threaten safety of all in region, says Turkish foreign minister
"Very scary" attacks on Russia-linked tankers in the Black Sea threaten the safety of all in the region, Turkish Foreign Minister Hakan Fidan said on December 3.
Turkey in November sharply cut imports of Russia’s flagship Urals crude amid turning of sanctions screw
Serbia’s sole oil refinery shuts down after US sanctions block crude oil supply
NIS, majority-owned by Russia’s Gazprom group, has been unable to secure new crude shipments since the sanctions took effect on October 9.
UK’s Centrica signs 15-year LNG supply deal with Honduras
London-headquartered Centrica Energy has reached an agreement to supply LNG to Exodus for Honduras.
Equinor, Shell wrap up merger of UK North Sea operations
Shell and Norway’s Equinor have completed the merger of significant parts of their UK North Sea oil and gas portfolios into a new standalone company they describe as the basin’s largest independent producer.
UK regulator flags up 13 companies for falling behind in decommissioning of assets
The regulator warns that persistent delays are raising costs for taxpayers and undermining efforts to retire ageing offshore infrastructure responsibly.
Europe grows more favourable to upstream development
As long as LNG imports carry a premium and global markets remain volatile, Europe is unlikely to abandon this pragmatic turn.
Italy's Snam secures EU backing for hydrogen, CCS projects
The European Commission has granted priority status to two major energy-infrastructure projects led by Italian gas grid operator Snam: a cross-border hydrogen pipeline running from North Africa to central Europe, and offshore CO2 storage facilities.
Harbour to axe 100 jobs citing UK windfall tax
The company said the reductions will follow a consultation period due to be completed in the first quarter of 2026.
New sea drone attack on ship sailing near Turkey reported, Ukraine claims Russia may have staged incident
A new sea drone attack on a Russia-linked ship off the Turkish coast was reported on December 2, but Ukraine denied involvement, claiming that Moscow may have staged the entire incident.
Serbia’s NIS refinery to shut down as US licence decision drags on
Serbia’s only oil refinery is close to a full shutdown after the United States failed to grant a new licence allowing crude imports, President Aleksandar Vucic said on December 2.
Argentina's Southern Energy inks LNG deal with Germany's SEFE, Camuzzi to build $3.9bn LNG export project
Argentina's Southern Energy consortium announced that it has secured a framework agreement to supply 2mn tonnes of LNG annually to Germany's SEFE over eight years starting in 2027.
Ukraine criticises Kazakhstan’s response after drone strike damages CPC terminal
Ozon and Wildberries plan to construct three large fulfilment centres in Kazakhstan as part of efforts to strengthen the country’s e-commerce logistics capacity.
Erdogan says Ukraine’s attacks on Russian oil tankers in Black Sea are not acceptable
Turkish President Recep Tayyip Erdogan said on December 1 that attacks on commercial ships in the Black Sea are not acceptable.
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