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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US urges Bosnia to move forward with Southern Interconnection gas pipeline
The United States urged Bosnia & Herzegovina’s authorities to accelerate preparations for the Southern Interconnection gas pipeline.
US urges Bosnia to move forward with Southern Interconnection gas pipeline
The United States urged Bosnia & Herzegovina’s authorities to accelerate preparations for the Southern Interconnection gas pipeline.
Viktor Orban heads to Moscow to secure energy supplies for Hungary
Orban will meet Russian President Vladimir Putin as he aims to guarantee Hungary’s energy supply for the winter and the coming year at affordable prices.
Serbia expects new gas agreement with Russia next week
Serbia expects to finalise a new gas arrangement with Russia next week, Dusan Bajatovic, director of Srbijagas said on November 27.
Hungary’s MOL in talks to buy stake in Serbia’s NIS, officials say
Hungary’s MOL is in talks over a possible acquisition of a stake in Serbian oil company NIS, Viktor Orbán’s chief of staff said on November 27, as Belgrade races to resolve US sanctions that threaten to shut down the country’s only refinery.
Serbia boosts energy spending as US sanctions threaten NIS refinery
Serbia’s government has proposed adding €1.4bn to its 2026 budget to safeguard the country’s energy supply, as Belgrade prepares legal grounds for a possible takeover of Russian-owned oil firm NIS.
Europe reaps rewards of tight global diesel supply
But long term, Europe’s domestic oil processing industry has shrunk and is unlikely to grow in a decarbonising world.
CPC terminal building damaged in UAV strike near Russian port of Novorossiysk
The Caspian Pipeline Consortium (CPC) said its administrative building at the marine terminal near Novorossiysk on the Russian Black Sea coast was damaged after unmanned aerial vehicles (UAVs) struck the area during the night of November 25.
Serbia drafts law to enable NIS takeover as refinery nears shutdown
With the refinery on the brink of shutdown and no clear solution from Moscow or Washington, Belgrade is edging closer to an option it has long sought to avoid.
Serbia’s central bank will halt NIS payments if US licence not granted
Serbia’s central bank will suspend all payment transactions with sanctioned oil company NIS if the US Treasury does not grant the Russian-owned firm a special operating licence, saying it would not allow risks to the domestic financial system.
INEOS prepares to launch CO2 storage off Denmark next year
UK chemicals firm INEOS is set to start operations next year on a pioneering offshore CO2 storage project in the Danish North Sea that aims to turn depleted oil reservoirs into long-term sinks for industrial emissions.
European gas futures dip to lowest point since May 2024
European benchmark natural gas prices have fallen to their lowest level since May 2024, reflecting healthy storage, strong LNG inflows and milder-than-feared early-winter conditions.
Norway's Equinor inks gas deal with Czech gas utility
Norwegian energy group Equinor has deepened its role in central European gas supply by signing a decade-long sales agreement with Prague’s municipal gas and power utility, Pražská plynárenská.
TotalEnergies opts to retire emergency French LNG terminal
The decision underlines how far Europe has moved from the emergency conditions that followed Russia’s supply cuts in 2022.
Hungary vows not to leave Serbia without energy as NIS shutdown looms
Hungary will “never leave Serbia without energy resources,” Foreign Minister Péter Szijjártó said on November 26, as Belgrade races to avert a full shutdown of its Russian-owned oil company NIS due to US sanctions.
Thessaloniki-Skopje oil pipeline to restart, boosting Skopje OKTA Refinery and regional supply
Romania claims three in race to buy Lukoil’s local assets, state takeover not excluded
Three bidders from Romania, the EU and the US are interested in Lukoil's local assets, which include a medium-sized refinery, a filling station chain and an offshore gas perimeter under exploration, the Romanian Minister of Energy said.
Serbia gives Russia 50-day deadline to sell majority stake in NIS
President Aleksandar Vucic warned Belgrade could take control of oil company NIS if no buyer is found.
US sanctions push Serbia’s only refinery toward shutdown
Serbia’s sole oil refinery could halt operations within days unless Washington grants a new licence to allow majority Russian-owned NIS to continue processing crude.
Serbia awaits US decision on sanctioned oil firm NIS
Serbia is awaiting a decision from Washington on whether it will grant a new licence allowing oil company NIS to continue operating the country’s sole refinery in Pancevo, as existing crude supplies are expected to run out.
Romania says it is protecting Romgaz’s participation in Lukoil-operated Trident offshore block
Romanian Prime Minister Ilie Bolojan said on November 21 that the Government has taken measures to protect the interests of state-owned natural gas producer Romgaz in the Trident offshore perimeter operated by Russia’s Lukoil.
KazMunayGas plans to divest 50% of its European assets
Kazakhstan’s state company KazMunayGas plans to sell up to 50% of its European assets, including KMGI with Romania’s largest refinery, Petromidia (4.8 million tonnes refining capacity),
ADNOC seen as leading contender to buy Russia’s stake in NIS
Abu Dhabi National Oil Company (ADNOC) has emerged as the frontrunner to acquire Russia’s majority stake in Serbian oil company NIS, according to growing speculation in Serbian media.
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