EurOil - Europe Oil & Gas

Rubio and Kazakh foreign minister discuss CPC pipeline after Black Sea attacks, disruptions

Kazakh Foreign Minister Yermek Kosherbayev held a telephone conversation with US counterpart Marco Rubio to discuss the Caspian Pipeline Consortium (CPC) oil export pipeline following disruptions caused by attacks near Russia's Black Sea coast.

Diesel price hits new record in Romania as Kazakh oil imports remain uncertain

The price of diesel at Romanian fuel stations surged by around 5% to RON10.5 (€2.0) per litre on July 30, setting a new record as the flow of crude oil from Kazakhstan through the Russian port of Novorossiysk remains uncertain.

Slovenia seeks EU approval to cut fuel excise duties below minimum level

Serbia’s NIS posts €83mn net profit in H1 2026 despite challenging market conditions

Hungary shuts down one reactor at Paks NPP in an unprecedented move as Danube hits record-low levels

Extreme low level of Danube forced Hungary to take a 500 MW reactor at the Paks nuclear plant offline for the first time, reducing capacity by 40%.

Iraqi PM reportedly concludes Turkey visit with no agreement on use of cross-border oil pipeline

Iraqi Prime Minister Ali Al-Zaidi reportedly ended his visit to Turkey on July 30 without sealing an agreement on the use of a cross-border pipeline that is essential to Iraq's oil export plans.

North Macedonia’s gasification push enters new phase as Greece interconnector nears completion

Long-awaited gas interconnector with Greece will open the way for a more diversified energy system and the gradual expansion of the domestic gas distribution network.

Bulgaria seeks new Lukoil law after court ruling on state administrator

Bulgaria's government will ask parliament to urgently approve legislation to preserve state oversight of two local units of Russian oil group Lukoil after the Constitutional Court ruled that the appointment of a state-appointed special administrator.

Iran says European warships near Hormuz are legitimate targets

Any European warship approaching the Strait of Hormuz is a legitimate target, Iran's deputy foreign minister for legal affairs has said, adding that Tehran's policy is that the waterway will never return to its pre-war condition.

Iraq, Turkey activate water framework agreement, linking Tigris-Euphrates cooperation to oil revenues

Italy's Edison reports extended force majeure on Qatari LNG shipments

QatarEnergy has extended force majeure on LNG supplies to Italy’s Edison through the end of September, adding three cargoes to the volumes it is unable to deliver because of the continuing disruption to Qatari exports.

Cyprus' offshore gas wealth finally reaches an FID

Eni’s sanction of the Cronos gas project ends Cyprus’ 15-year wait for an offshore development and puts first exports on track for 2028.

Serbia's NIS seeks fresh US sanctions waiver beyond July 31

Serbia's sole oil refiner NIS said on July 27 it had applied to the US Treasury's Office of Foreign Assets Control (OFAC) for a new special licence allowing it to continue operating after its current sanctions waiver expires on July 31.

Hydropower boom saves Turkey $5bn in energy imports, says industry group

Turkey’s hydropower sector has posted its strongest performance on record this year, significantly reducing the country’s reliance on imported energy sources.

Kazakhstan oil output halves after CPC export disruption, loadings resume

Hungary commissions Central Europe’s largest battery storage complex

Hungary is rapidly expanding grid-scale energy storage to support its fast-growing renewable energy sector.

Greece’s Dynagas gets EU exemption to transport Russian LNG

Brussels yields to Athens but caps LNG volume transported at 2025 levels.

EU targets Russian banks in largest package for four years

The European Union adopted its 21st sanctions package against Russia on July 23, adding 48 individuals and 170 entities to its asset freeze lists, designating 94 financial institutions and targeting another 41 shadow fleet vessels.

Finland's Neste enjoys strongest quarterly result on record in Q2

Finland’s Neste posted its strongest quarterly result on record in the second quarter, as exceptionally wide diesel margins lifted earnings ahead of an eight-week shutdown of its Porvoo refinery starting in August.

Spain's Repsol expects strong oil refining margins through 2026 and 2027

Repsol expects refining margins to remain strong through the rest of this year and into 2027, supported by constrained fuel supplies, low inventories and continued geopolitical disruption.

Low Rhine levels hit German petrochemicals output

Exceptionally low water levels on the Rhine are restricting feedstock supplies to German petrochemical plants, contributing to production cuts and a force majeure at LyondellBasell’s Wesseling butadiene unit.

UK-focused Serica to acquire Pharos for $195mn, outbidding Ratio

Portugal's Galp enjoys 45% climb in profits on rising Brazilian output, Iran fallout

The result exceeded the company-compiled analyst consensus of €494mn.

TotalEnergies appeals against French ruling requiring it to address Scope 3 emissions

Emissions from the combustion of oil and gas by customers, known as Scope 3 emissions, typically account for 90% of the total climate footprint of oil and gas companies.

Kazakhstan freezes NCOC assets over disputed $5bn environmental fine

Kazakhstan has frozen property and transport assets belonging to the North Caspian Operating Company (NCOC), the operator of the Kashagan oilfield, as authorities move to enforce a nearly KZT 2.356 trillion (approximately $5bn) environmental fine.