EurOil - Europe Oil & Gas

Hungary’s MOL could buy part of Gazprom’s stake in Serbia’s NIS

Hungarian energy company MOL could buy an 11.3% stake in Serbia’s oil company NIS from Russia’s Gazprom group as part of efforts to resolve US sanctions against the firm.

Bulgaria’s parliament overturns president’s veto on Lukoil refinery law

Bulgaria’s parliament overturned President Rumen Radev’s veto on a law that gives the government more control over the local assets of Russia’s oil company Lukoil, less than ten days before new US sanctions take effect.

MP says Bosnia must speed up gas project to reduce dependence on Russia

Any delay in the Southern Gas Interconnection project could have “unforeseeable and harmful consequences” for Bosnia & Herzegovina, a senior lawmaker warned.

Hungary global leader in share of solar energy, report shows

Solar power accounted for close to 30% of electricity generation in Hungary in H1 2025, more than in any other country covered in a global report by international independent think tank Ember.

Discounts on Russian Urals oil peak in November

North Macedonia’s regulator says Lukoil’s local unit should be given chance to continue operations

Bulgarian president vetoes law on seizure of Lukoil assets

The veto comes just ten days before new US sanctions on Lukoil take effect, which could block the operation of its Bulgarian assets.

Russia signals readiness to give up control of Serbia’s NIS amid US sanctions

Russia is prepared to relinquish control of Serbia’s oil company, NIS, to a third party to resolve US sanctions that threaten the firm’s operations and Serbia’s energy security.

Bulgaria says fuel reserves sufficient ahead of new US sanctions on Lukoil

Bulgaria has enough fuel reserves to cover domestic demand for several months even if operations at Russia’s Lukoil-owned Burgas refinery are disrupted by new US sanctions.

The UK's mixed signals on North Sea's future

A key thing to watch out for will be the result of consultations between government and industry in the UK about whether certain new licences can still be issued.

How sanctions are hurting Lukoil in Europe

Sweeping Western sanctions imposed in October 2025 on Lukoil, Russia’s second-largest oil producer, have triggered a cascade of legal, operational and financial crises across multiple regions.

Aker BP, DNO agree asset swaps in Norwegian North Sea

Aker BP and DNO have signed a series of asset-swap and operatorship agreements, bolstering Aker BP’s position in the Alvheim area and paving the way for faster development of the Kjøttkake discovery.

NEO, Repsol pre-empt for BP's UK North Sea interests, blocking Serica bid

NEO NEXT Energy, a joint venture between Spain’s Repsol and the UK’s NEO Energy, has exercised its pre-emption rights over BP’s interests in two UK Central North Sea licences, blocking Serica Energy’s planned $232mn acquisition.

Romania preparing law to place Lukoil refinery under state control

Romania’s Ministry of Energy is drafting legislation that would allow the state to take control of Lukoil’s Petrotel refinery in Ploiești to ensure compliance with international sanctions and protect national energy security.

Brazil eases away from Russian diesel

Brazilian fuel importers are reducing purchases of Russian diesel after new US sanctions tightened restrictions on the country’s two biggest oil producers, Rosneft and Lukoil, according to market analysts.

Jugopetrol sole bidder for Montenegro’s state oil reserve storage tender

Montenegro’s oil company Jugopetrol was the only firm to submit an offer in the Hydrocarbons Administration’s tender for the storage of state oil reserves.

Serbia supports request for extension of NIS operating licence

Serbia, China discuss construction of oil refinery in Smederevo

Representatives of Serbia’s Ministry of Mining and Energy met with a delegation from China Energy International Group and China Petroleum Corporation (Sinopec) to discuss potential cooperation on the construction of an oil refinery in Smederevo.

Croatia says new gas link will open supply route to Bosnia, boost regional energy security

Bulgaria and Romania seek to delay sanctions against Lukoil

Sanctions imposed by US authorities on Lukoil's global operations expected to cause costly disruptions at the Russian group's local refineries.

MOL delivers a robust Q3 with EBITDA close to $1bn

Slovak refiner Slovnaft says Croatian Janaf failed to deliver latest oil supply

The Slovak key oil refiner, Hungarian MOL-owned Slovnaft, said the Croatian oil pipeline operator Janaf failed to deliver the latest contracted shipment of 58,000 tones of Arab Light oil.

Sanctions on Lukoil reportedly cast doubt on $6bn Kalamkas–Khazar offshore oil project in Kazakhstan

Uncertainty is growing around the $6bn Kalamkas–Khazar offshore oil development in Kazakhstan after the United States imposed sanctions on Russia’s Lukoil, the project’s operator, Upstream reported on November 6, citing industry sources.

Bulgaria’s parliament overrides presidential veto on sale of Lukoil assets

Bulgaria’s parliament voted to override President Rumen Radev’s veto on amendments to the Investment Promotion Act, allowing potential sales of Lukoil’s Bulgarian subsidiaries, only with government and national security approval.

Turkey arrests directors of fuel retailer TP after SOCAR complaint

Police describe around 18,500 tonnes of fuel as "missing".