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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Kashagan operators face July 20 deadline to pay $4.9bn environmental fine
Foreign consortium members operating Kazakhstan's Kashagan oil field must reportedly pay a KZT 2.3 trillion ($4.9bn) environmental fine by July 20 following a court ruling that has entered into legal force.
Denmark's Topsoe, South Africa's Sasol to equip Allied Biofuels' planned $6bn SAF biorefinery in Uzbekistan
Danish company Topsoe and South African group Sasol have signed licensing agreements with Uzbekistan's Allied Biofuels to supply core technologies required for a planned $6.1bn SAF and eSAF biorefinery.
TotalEnergies divests distributed solar business to focus on larger scale
TotalEnergies has sold its European distributed solar business as it concentrates renewable investment on larger utility-scale projects.
Netherlands' Fugro secures deal with Saipem for marine services for UK's first CCS project
Fugro did not disclose its value or duration.
Norwegian oil strike after big hit to production
A month-long Norwegian oil-service dispute ended on July 14, averting an expected rise in oil and gas production losses to around 120,000 barrels of oil equivalent per day by late July.
IEA chief urges EU to rethink opposition to Arctic oil and gas development
IEA head Fatih Birol has urged the EU to reconsider its opposition to new Arctic oil and gas development, arguing that maintaining Norwegian supply will become increasingly important to European energy security.
Harbour Energy wraps up $163mn takeover of Waldorf assets in UK North Sea
UK oil and gas group Harbour Energy has completed its $163mn acquisition of substantially all the UK subsidiaries of Waldorf Energy Partners and Waldorf Production, strengthening its position in the UK North Sea.
Var Energi cleared to drill two Norwegian wildcat wells
The regulator announced on July 13 that it had issued permits for wellbores 35/6-7 S in production licence 929 and 25/8-24 S in production licence 1203.
UK's James Fisher and Aquaterra Energy form offshore services partnership
The UK’s James Fisher and Sons and Aquaterra Energy have formed a global partnership to offer offshore oil and gas operators an integrated service spanning early engineering, well abandonment, subsea work and infrastructure removal.
BP expects big earnings bump in Q2 on US-Iran war fallout
BP expects a sharp second-quarter earnings boost as the Iran war drove up oil prices and refining margins, while its oil trading performance improved further from an exceptionally strong first quarter.
Norway's DOF secures $100-200mn contract for offshore services
Norwegian offshore services provider DOF has received a letter of award for a four-year contract valued at between $100mn and $200mn.
Norway's DeepOcean wraps up decomm work in UK North Sea
Oslo-based DeepOcean has completed subsea decommissioning work at UK operator Spirit Energy’s Seven Seas and Grove West fields in the southern North Sea off the UK ahead of a planned rig campaign.
European gas prices surge amid renewed US-Iran hostilities
European gas prices have soared this week amid renewed US-Iran hostilities, driving up costs for restocking supplies ahead of next winter.
Drone strikes compressor station serving Russia's Blue Stream gas pipeline
The station was attacked at 19:51 local time on July 7, Gazprom said. The company did not disclose the extent of the damage, adding that emergency work was under way.
Russian refining down to record lows, LNG exports to Europe at record highs
Russia’s crude output declined to the lowest in at least two and a half years in June as Ukraine attacked the nation’s oil infrastructure on an almost daily basis. But LNG production remains untouched and exports to Europe are at record highs.
Shell delivers US LNG cargo to Bulgargaz for winter storage
UK-based energy company Shell has delivered a cargo of US LNG to Bulgaria's state-owned gas supplier Bulgargaz via the Alexandroupolis LNG terminal in Greece.
OPEC’s leverage narrows as war and exits reshape supply
Sanctions on Iran, war‑time disruptions and the UAE’s departure from OPEC have eroded the cartel’s capacity to shape prices, leaving it increasingly reactive and internally constrained
Central Asia battles to stop fuel squeeze turning into supply shock
Sustained Ukrainian attacks on Russia’s refineries increasingly hitting motorists across region.
Europe is heading for gas volume crunch this winter, Eni chief warns
Europe is heading towards a shortage of physical gas supplies rather than another spike in prices, according to the head of Italy's energy major Eni, who warned that the continent faces its tightest supply buffer since the 2022 energy crisis.
Slovakia's President Pellegrini holds energy, defence talks with Erdogan
Pellegrini explained that the Turkish side could let the Slovak state Nuclear and Decommissioning Company take part in the tender to develop a nuclear waste storage site in Turkey.
Poland eyes market mechanisms to cut fuel prices, rather than return to budget burdening scheme
For the Polish government to return to a fuel price support scheme, there would have to be a significant escalation in the Middle East conflict, energy minister Miłosz Motyka said, adding that it now wanted to lower prices through market mechanisms.
Scottish MP splits goes further than ruling party in support for new oil and gas projects
The politician said they would support Scottish jobs, strengthen domestic energy security and help sustain the industrial base needed to develop renewable energy.
European prices spike on Trump claim that Iran deal is over
European natural gas prices jumped in early July 8 trading after US President Donald Trump said an interim agreement to end the war with Iran was “over”, reviving concerns over LNG shipments through the Strait of Hormuz.
Equinor dishes out $612mn in contracts as part of next wave of its upstream development plans
Equinor has awarded contracts worth around NOK6bn for four subsea tie-back projects, launching the first wave of a broader effort to cut development costs and timelines on the Norwegian continental shelf.
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